Envestnet Asset Management Inc. boosted its stake in shares of Restaurant Brands International Inc. (NYSE:QSR – Get Rating) (TSE:QSR) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,338 shares of the restaurant operator’s stock after purchasing an additional 23,112 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of Restaurant Brands International worth $17,418,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Restaurant Brands International by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 301,806 shares of the restaurant operator’s stock valued at $17,623,000 after acquiring an additional 2,830 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Restaurant Brands International by 2.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,183 shares of the restaurant operator’s stock valued at $536,000 after acquiring an additional 229 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Restaurant Brands International by 12.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,164 shares of the restaurant operator’s stock valued at $301,000 after acquiring an additional 577 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Restaurant Brands International by 73.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,076 shares of the restaurant operator’s stock valued at $413,000 after acquiring an additional 3,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Restaurant Brands International by 99.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 373,323 shares of the restaurant operator’s stock valued at $21,798,000 after acquiring an additional 185,998 shares during the period. Hedge funds and other institutional investors own 77.87% of the company’s stock.
Insiders Place Their Bets
In other Restaurant Brands International news, CEO Jose E. Cil sold 264,461 shares of the business’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $65.64, for a total transaction of $17,359,220.04. Following the sale, the chief executive officer now directly owns 187,414 shares in the company, valued at approximately $12,301,854.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.25% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on QSR shares. Credit Suisse Group lifted their price target on shares of Restaurant Brands International from $74.00 to $79.00 in a research note on Wednesday, May 3rd. Stifel Nicolaus lifted their price target on shares of Restaurant Brands International from $65.00 to $72.00 in a research note on Wednesday, May 3rd. Stephens reaffirmed an “equal weight” rating and set a $63.00 price target on shares of Restaurant Brands International in a research note on Monday, February 27th. Royal Bank of Canada lifted their price target on shares of Restaurant Brands International from $81.00 to $84.00 in a research note on Wednesday, May 3rd. Finally, Truist Financial lifted their price target on shares of Restaurant Brands International from $78.00 to $80.00 in a research note on Wednesday, May 3rd. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.
Restaurant Brands International Trading Up 1.1 %
Shares of NYSE:QSR opened at $71.58 on Monday. The company has a market cap of $22.27 billion, a PE ratio of 21.82, a P/E/G ratio of 2.64 and a beta of 0.98. The company’s 50-day moving average price is $65.80 and its 200 day moving average price is $65.17. Restaurant Brands International Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $73.24. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 3.05.
Restaurant Brands International (NYSE:QSR – Get Rating) (TSE:QSR) last issued its quarterly earnings data on Tuesday, May 2nd. The restaurant operator reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. Restaurant Brands International had a net margin of 15.26% and a return on equity of 35.70%. Restaurant Brands International’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. Sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.06 earnings per share for the current year.
Restaurant Brands International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 22nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.07%. Restaurant Brands International’s dividend payout ratio (DPR) is 67.07%.
Restaurant Brands International Company Profile
Restaurant Brands International, Inc is a holding company, which engages in the operation of quick service restaurants. It operates through the following segments: Tim Hortons, Burger King, and Popeyes. The Tim Hortons segment provides donut, coffee, and tea restaurant services. The Burger King segment manages fast food hamburger restaurant.
Further Reading
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