Robeco Institutional Asset Management B.V. Increases Holdings in Toast, Inc. $TOST

Key Points

• Robeco Institutional Asset Management boosted its stake in Toast by 6.3% to 972,230 shares (about $34.52M), and institutional investors collectively own roughly 82.91% of the company.
• Toast missed Q results on EPS ($0.16 vs. $0.24 consensus) while revenue rose 22% to $1.63B; the company announced a stock repurchase plan (filing shows $0.00 authorization) and insiders have sold shares recently.
• TOST trades near $27 with a market cap of $14.24B and a PE of 50.3, and analysts show a consensus Moderate Buy with an average target price of $39.88.

Robeco Institutional Asset Management B.V. lifted its position in Toast, Inc. (NYSE:TOST - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 972,230 shares of the company's stock after purchasing an additional 57,512 shares during the period. Robeco Institutional Asset Management B.V. owned 0.19% of Toast worth $34,524,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Capital International Investors lifted its holdings in Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company's stock worth $1,768,256,000 after buying an additional 3,351,545 shares during the period. Vanguard Group Inc. lifted its holdings in Toast by 0.8% during the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company's stock worth $1,634,339,000 after buying an additional 352,435 shares during the period. Jennison Associates LLC lifted its holdings in Toast by 74.4% during the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company's stock worth $547,670,000 after buying an additional 6,398,674 shares during the period. State Street Corp lifted its holdings in Toast by 3.5% during the third quarter. State Street Corp now owns 9,538,312 shares of the company's stock worth $348,244,000 after buying an additional 325,423 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Toast by 2,432.8% during the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company's stock worth $299,957,000 after buying an additional 7,891,383 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Trading Up 7.0%

Shares of TOST stock opened at $27.17 on Tuesday. The business's fifty day simple moving average is $27.43 and its 200-day simple moving average is $32.68. The company has a market cap of $14.24 billion, a PE ratio of 50.32 and a beta of 1.90. Toast, Inc. has a 12-month low of $24.35 and a 12-month high of $49.66.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. On average, equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast declared that its board has initiated a stock repurchase plan on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 7,289 shares of the company's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $190,898.91. Following the transaction, the president directly owned 920,985 shares of the company's stock, valued at approximately $24,120,597.15. This represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 6,438 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the completion of the transaction, the executive directly owned 146,618 shares in the company, valued at approximately $3,839,925.42. The trade was a 4.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 46,030 shares of company stock valued at $1,231,451. Corporate insiders own 12.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TOST. Evercore upgraded Toast from an "in-line" rating to an "outperform" rating and set a $40.00 target price for the company in a report on Tuesday, January 20th. Oppenheimer lowered their target price on Toast from $48.00 to $39.00 and set an "outperform" rating for the company in a report on Friday, February 13th. Jefferies Financial Group set a $35.00 target price on Toast in a report on Friday, February 13th. Stephens set a $42.00 target price on Toast in a report on Friday, January 16th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Toast in a report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Toast has an average rating of "Moderate Buy" and an average target price of $39.88.

About Toast

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.