Westbourne Investment Advisors Inc. Grows Stock Holdings in Toast, Inc. $TOST

Westbourne Investment Advisors Inc. boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,453 shares of the company’s stock after purchasing an additional 27,376 shares during the quarter. Toast comprises about 2.3% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 13th largest position. Westbourne Investment Advisors Inc.’s holdings in Toast were worth $8,290,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TOST. Alliancebernstein L.P. increased its position in Toast by 2,432.8% during the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after acquiring an additional 7,891,383 shares during the last quarter. Jennison Associates LLC increased its position in Toast by 74.4% during the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after acquiring an additional 6,398,674 shares during the last quarter. ValueAct Holdings L.P. bought a new position in Toast during the third quarter valued at $124,032,000. Capital International Investors increased its position in Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after acquiring an additional 3,351,545 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Toast by 35.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,517,216 shares of the company’s stock valued at $274,454,000 after acquiring an additional 1,982,566 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

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

Toast Trading Up 1.5%

Shares of NYSE TOST traded up $0.41 during mid-day trading on Tuesday, reaching $27.56. The company had a trading volume of 488,577 shares, compared to its average volume of 11,436,841. The business’s 50-day moving average is $27.43 and its 200-day moving average is $32.68. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of 51.25 and a beta of 1.90. Toast, Inc. has a 52 week low of $24.35 and a 52 week high of $49.66.

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

Toast declared that its Board of Directors has authorized a stock buyback program on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TOST shares. Sanford C. Bernstein set a $39.00 price objective on shares of Toast in a research report on Monday, February 16th. Oppenheimer cut their price objective on shares of Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. Mizuho cut their price objective on shares of Toast from $57.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Finally, Wolfe Research cut shares of Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.88.

Toast 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.