Dimensional Fund Advisors LP Has $40.34 Million Position in Toast, Inc. $TOST

Key Points

• Dimensional Fund Advisors increased its Toast stake by 4.2% in the first quarter, bringing its holdings to 1.52 million shares valued at approximately $40.34 million. Institutional investors collectively own 82.91% of Toast.
• Analysts maintain a generally positive outlook, with Toast receiving a consensus “Moderate Buy” rating and an average price target of $37.27. Recent targets range from $33 to $38.
• Toast reported quarterly revenue of $1.63 billion, up 21.9% year over year, but missed earnings expectations with EPS of $0.20 versus the $0.28 consensus estimate. Insiders sold shares mainly to cover tax obligations related to vested equity awards.

Dimensional Fund Advisors LP raised its stake in Toast, Inc. (NYSE:TOST - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,522,094 shares of the company's stock after buying an additional 61,269 shares during the quarter. Dimensional Fund Advisors LP owned 0.30% of Toast worth $40,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capelight Capital Asset Management LP purchased a new position in Toast in the fourth quarter valued at about $2,131,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Toast by 6.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company's stock worth $34,524,000 after purchasing an additional 57,512 shares in the last quarter. Lecap Asset Management Ltd. lifted its holdings in shares of Toast by 206.7% during the 4th quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company's stock valued at $2,099,000 after buying an additional 39,847 shares during the last quarter. Campbell Capital Management Inc. acquired a new stake in shares of Toast during the 4th quarter valued at about $9,812,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Toast by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 514,992 shares of the company's stock valued at $18,287,000 after buying an additional 52,959 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Toast in a research report on Wednesday, May 20th. Barclays began coverage on shares of Toast in a research report on Tuesday, July 7th. They issued an "overweight" rating and a $35.00 target price for the company. Truist Financial raised their price target on shares of Toast from $30.00 to $33.00 and gave the company a "buy" rating in a report on Friday, July 24th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Toast in a research note on Monday, June 1st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $38.00 price objective on shares of Toast in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.27.

Toast Stock Performance

NYSE TOST opened at $32.81 on Tuesday. The stock has a 50-day simple moving average of $27.66 and a 200 day simple moving average of $27.84. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The stock has a market capitalization of $16.93 billion, a PE ratio of 50.49 and a beta of 1.72.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). Toast had a return on equity of 20.86% and a net margin of 6.39%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. The business's quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 6,352 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $183,255.20. Following the completion of the sale, the general counsel directly owned 196,909 shares of the company's stock, valued at $5,680,824.65. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25. Following the transaction, the chief financial officer directly owned 185,150 shares of the company's stock, valued at $5,341,577.50. This represents a 5.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 159,265 shares of company stock worth $4,278,832. 10.03% of the stock is currently owned by insiders.

Toast Company Profile

Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.

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