Junto Capital Management LP Takes Position in Toast, Inc. $TOST

Key Points

• Junto Capital Management bought 1.95 million Toast shares worth approximately $54.3 million in the second quarter, giving it a 0.38% stake. Institutional investors collectively own 82.91% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $39.12; several firms recently raised their targets to between $39 and $45.
• Toast’s latest quarterly revenue rose 23.1% year over year to $1.91 billion, beating estimates, although adjusted EPS of $0.26 missed consensus by $0.06. Insiders sold 522,533 shares worth about $18.2 million over the past quarter.

Junto Capital Management LP bought a new position in Toast, Inc. (NYSE:TOST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,952,539 shares of the company's stock, valued at approximately $54,320,000. Junto Capital Management LP owned about 0.38% of Toast as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its position in Toast by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 12,748 shares of the company's stock valued at $355,000 after buying an additional 315 shares during the period. BOKF NA boosted its holdings in shares of Toast by 4.5% during the third quarter. BOKF NA now owns 8,023 shares of the company's stock worth $293,000 after purchasing an additional 345 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of Toast by 0.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company's stock worth $1,800,000 after purchasing an additional 358 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Toast by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company's stock worth $1,012,000 after purchasing an additional 380 shares during the last quarter. Finally, Seven Mile Advisory increased its holdings in Toast by 3.1% during the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company's stock valued at $463,000 after purchasing an additional 381 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TOST has been the subject of several research analyst reports. Citigroup increased their price objective on Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Jefferies Financial Group set a $40.00 target price on Toast in a research note on Wednesday, August 5th. BMO Capital Markets upped their target price on Toast from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Sanford C. Bernstein raised their price target on Toast from $39.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, Canaccord Genuity Group set a $40.00 price target on shares of Toast in a report on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $39.12.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 14,280 shares of the business's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $33.90, for a total transaction of $484,092.00. Following the sale, the executive owned 69,966 shares of the company's stock, valued at $2,371,847.40. The trade was a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.38, for a total transaction of $4,240,045.34. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 522,533 shares of company stock valued at $18,172,786 over the last quarter. Corporate insiders own 10.03% of the company's stock.

Toast Trading Down 2.7%

TOST opened at $32.40 on Thursday. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 41.54 and a beta of 1.72. The stock has a fifty day simple moving average of $32.71 and a two-hundred day simple moving average of $28.66. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $42.15.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The business's quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. On average, analysts predict that Toast, Inc. will post 1 EPS for the current year.

About Toast

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast's integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.

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