Sumitomo Mitsui Trust Group Inc. Has $249.74 Million Stock Position in Toast, Inc. $TOST

by · The Markets Daily

Sumitomo Mitsui Trust Group Inc. decreased its position in Toast, Inc. (NYSE:TOST – Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,032,895 shares of the company’s stock after selling 484,321 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Toast were worth $249,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. Quent Capital LLC acquired a new position in shares of Toast in the 3rd quarter valued at $27,000. Alpine Bank Wealth Management acquired a new position in shares of Toast in the 3rd quarter valued at $30,000. Central Pacific Bank Trust Division grew its holdings in shares of Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after buying an additional 521 shares during the period. Wolff Wiese Magana LLC acquired a new position in Toast in the 3rd quarter worth $37,000. Finally, Root Financial Partners LLC acquired a new position in Toast in the 3rd quarter worth $42,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 8,929 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $233,850.51. Following the transaction, the chief financial officer directly owned 173,064 shares of the company’s stock, valued at $4,532,546.16. This represents a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 6,438 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction 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. This represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 46,030 shares of company stock worth $1,231,451 in the last 90 days. 12.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on TOST. Wolfe Research lowered shares of Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Mizuho reduced their target price on shares of Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Jefferies Financial Group set a $35.00 target price on shares of Toast in a research note on Friday, February 13th. Canaccord Genuity Group set a $37.00 target price on shares of Toast in a research note on Friday, February 13th. Finally, Needham & Company LLC reduced their target price on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.88.

Check Out Our Latest Report on Toast

Toast Trading Up 0.2%

Shares of NYSE TOST opened at $25.45 on Monday. The company has a fifty day moving average price of $27.52 and a 200 day moving average price of $32.75. Toast, Inc. has a 1-year low of $24.35 and a 1-year high of $49.66. The firm has a market cap of $13.34 billion, a PE ratio of 47.14 and a beta of 1.90.

Toast (NYSE:TOST – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Equities research analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

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

Toast Profile

(Free Report)

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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