CIBC Asset Management Inc Grows Position in Toast, Inc. (NYSE:TOST)

CIBC Asset Management Inc lifted its stake in shares of Toast, Inc. (NYSE:TOST) by 5.5% during the 4th quarter, HoldingsChannel reports. The fund owned 13,311 shares of the company’s stock after acquiring an additional 697 shares during the period. CIBC Asset Management Inc’s holdings in Toast were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. State of New Jersey Common Pension Fund D grew its position in shares of Toast by 8.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 146,122 shares of the company’s stock worth $5,326,000 after buying an additional 11,399 shares in the last quarter. Principal Securities Inc. raised its position in Toast by 48.4% in the fourth quarter. Principal Securities Inc. now owns 1,769 shares of the company’s stock worth $64,000 after acquiring an additional 577 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of Toast by 14,488.9% during the 4th quarter. Manchester Capital Management LLC now owns 1,313 shares of the company’s stock valued at $48,000 after acquiring an additional 1,304 shares during the last quarter. Kessler Investment Group LLC acquired a new stake in shares of Toast during the fourth quarter valued at approximately $4,120,000. Finally, Rhumbline Advisers boosted its position in Toast by 0.7% during the 4th quarter. Rhumbline Advisers now owns 582,626 shares of the company’s stock worth $21,237,000 after acquiring an additional 4,084 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Down 6.4 %

Shares of TOST opened at $37.68 on Monday. The business has a 50-day simple moving average of $38.60 and a two-hundred day simple moving average of $33.58. The stock has a market cap of $17.75 billion, a price-to-earnings ratio of -3,764.44, a PEG ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 52 week low of $20.57 and a 52 week high of $44.12.

Toast (NYSE:TOST) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. On average, equities analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Robert W. Baird increased their price target on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday. Wedbush boosted their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. BMO Capital Markets boosted their target price on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, BNP Paribas set a $37.00 target price on shares of Toast and gave the stock a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.09.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 653 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 $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 2,052 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the sale, the chief financial officer now directly owns 160,498 shares of the company’s stock, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 149,779 shares of company stock valued at $5,415,192 over the last ninety days. 13.32% of the stock is owned by insiders.

Toast Company Profile

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.