Restaurant Brands International Inc. (QSR) CEO Sells $45,696,453.18 in Stock
Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) CEO Daniel S. Schwartz sold 708,582 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $64.49, for a total value of $45,696,453.18. Following the transaction, the chief executive officer now owns 886,272 shares of the company’s stock, valued at $57,155,681.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, October 26th. The restaurant operator reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Restaurant Brands International had a return on equity of 23.53% and a net margin of 12.40%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $0.43 EPS. Restaurant Brands International’s quarterly revenue was up 12.4% compared to the same quarter last year.
Restaurant Brands International declared that its board has approved a share repurchase program on Wednesday, August 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the restaurant operator to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.20. Restaurant Brands International’s dividend payout ratio (DPR) is currently 55.17%.
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A number of large investors have recently added to or reduced their stakes in QSR. BNP Paribas Arbitrage SA lifted its holdings in Restaurant Brands International by 10.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock worth $135,000 after buying an additional 200 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Restaurant Brands International by 10.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock worth $179,000 after buying an additional 306 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in Restaurant Brands International by 9.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock worth $197,000 after buying an additional 261 shares during the last quarter. Enterprise Financial Services Corp lifted its holdings in Restaurant Brands International by 16,250.0% during the 3rd quarter. Enterprise Financial Services Corp now owns 3,270 shares of the restaurant operator’s stock worth $209,000 after buying an additional 3,250 shares during the last quarter. Finally, Cigna Investments Inc. New bought a new position in Restaurant Brands International during the 2nd quarter worth approximately $211,000. 76.24% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on QSR. UBS AG restated a “buy” rating and set a $68.00 target price (up from $64.00) on shares of Restaurant Brands International in a report on Thursday, August 3rd. Royal Bank Of Canada lifted their price objective on Restaurant Brands International from $69.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. BidaskClub cut Restaurant Brands International from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Scotiabank lifted their price objective on Restaurant Brands International from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Monday, September 18th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Restaurant Brands International presently has an average rating of “Buy” and an average target price of $69.06.
Restaurant Brands International Company Profile
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.
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