Vestcor Inc Grows Stake in Toast, Inc. (NYSE:TOST)

Vestcor Inc lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 35.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,736 shares of the company’s stock after acquiring an additional 2,032 shares during the period. Vestcor Inc’s holdings in Toast were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank purchased a new position in shares of Toast in the 4th quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast during the 4th quarter worth $34,000. SBI Securities Co. Ltd. purchased a new stake in Toast in the fourth quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Toast in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Toast stock opened at $34.78 on Tuesday. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The company has a market cap of $17.18 billion, a P/E ratio of -3,474.23, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The business has a fifty day moving average of $38.05 and a two-hundred day moving average of $34.78.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Sell-side analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Robert W. Baird lifted their target price on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, UBS Group increased their price target on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Toast presently has an average rating of “Hold” and a consensus target price of $40.48.

Insider Buying and Selling

In related news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. The trade was a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,641 shares of company stock worth $8,937,776 in the last quarter. Company insiders own 13.32% of the company’s stock.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.