Bank of America Corp DE trimmed its holdings in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 15.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 798,956 shares of the restaurant operator’s stock after selling 151,204 shares during the period. Bank of America Corp DE’s holdings in Restaurant Brands International were worth $43,647,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Waratah Capital Advisors Ltd. acquired a new position in Restaurant Brands International in the 2nd quarter worth about $1,845,000. Redwood Investment Management LLC acquired a new position in Restaurant Brands International in the 2nd quarter worth about $999,000. Tudor Investment Corp Et Al increased its position in Restaurant Brands International by 120.4% in the 2nd quarter. Tudor Investment Corp Et Al now owns 24,387 shares of the restaurant operator’s stock worth $1,332,000 after purchasing an additional 13,320 shares during the last quarter. Northern Right Capital Management L.P. acquired a new position in Restaurant Brands International in the 2nd quarter worth about $6,201,000. Finally, Balyasny Asset Management LLC acquired a new position in Restaurant Brands International in the 2nd quarter worth about $40,901,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Carlos Alberto Sicupira sold 29,514 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $1,653,374.28. Following the completion of the sale, the director now owns 167,574 shares in the company, valued at $9,387,495.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.69% of the company’s stock.
Several analysts have recently issued reports on the company. KeyCorp upped their price target on Restaurant Brands International from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Zacks Investment Research upgraded Restaurant Brands International from a “sell” rating to a “hold” rating and set a $57.00 target price for the company in a research note on Wednesday, May 27th. Royal Bank of Canada decreased their target price on Restaurant Brands International from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Deutsche Bank increased their target price on Restaurant Brands International from $57.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, August 10th. They noted that the move was a valuation call. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $59.00 price objective on shares of Restaurant Brands International in a research report on Tuesday, May 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $62.20.
NYSE:QSR opened at $58.21 on Wednesday. The company has a debt-to-equity ratio of 3.54, a quick ratio of 1.66 and a current ratio of 1.73. The stock’s 50-day simple moving average is $55.44 and its 200 day simple moving average is $51.75. The company has a market cap of $17.64 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.85 and a beta of 1.26. Restaurant Brands International Inc has a 52-week low of $25.08 and a 52-week high of $74.61.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. Restaurant Brands International had a return on equity of 26.85% and a net margin of 11.82%. The business’s revenue was down 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, equities analysts predict that Restaurant Brands International Inc will post 2.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, September 17th. Restaurant Brands International’s dividend payout ratio (DPR) is presently 76.47%.
Restaurant Brands International Company Profile
Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.
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