Bank of Nova Scotia Reduces Holdings in Restaurant Brands International Inc. $QSR

Bank of Nova Scotia decreased its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 22.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,302,022 shares of the restaurant operator’s stock after selling 366,726 shares during the quarter. Bank of Nova Scotia’s holdings in Restaurant Brands International were worth $86,343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Aviso Financial Inc. grew its position in Restaurant Brands International by 1.2% in the first quarter. Aviso Financial Inc. now owns 953,186 shares of the restaurant operator’s stock valued at $63,566,000 after acquiring an additional 11,164 shares during the period. Jump Financial LLC acquired a new position in shares of Restaurant Brands International during the first quarter worth approximately $432,000. Raymond James Financial Inc. increased its stake in shares of Restaurant Brands International by 90.9% in the 1st quarter. Raymond James Financial Inc. now owns 563,747 shares of the restaurant operator’s stock valued at $37,568,000 after buying an additional 268,511 shares during the period. Allspring Global Investments Holdings LLC increased its position in Restaurant Brands International by 11.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 78,845 shares of the restaurant operator’s stock worth $5,355,000 after purchasing an additional 7,988 shares during the period. Finally, Partners Capital Investment Group LLP raised its stake in shares of Restaurant Brands International by 91.2% during the first quarter. Partners Capital Investment Group LLP now owns 145,787 shares of the restaurant operator’s stock worth $9,715,000 after buying an additional 69,557 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on QSR shares. Northcoast Research lowered Restaurant Brands International from a “buy” rating to a “neutral” rating in a research note on Friday, September 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Restaurant Brands International in a report on Wednesday, October 8th. Robert W. Baird increased their target price on Restaurant Brands International from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Morgan Stanley set a $77.00 target price on shares of Restaurant Brands International in a report on Tuesday, October 21st. Finally, Citigroup upped their price target on shares of Restaurant Brands International from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Ten analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $75.23.

Insider Transactions at Restaurant Brands International

In related news, Director Ali Hedayat sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $72.77, for a total value of $509,390.00. Following the transaction, the director owned 18,962 shares in the company, valued at approximately $1,379,864.74. This trade represents a 26.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman J Patrick Doyle sold 43,597 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $69.80, for a total transaction of $3,043,070.60. Following the completion of the transaction, the chairman directly owned 193,855 shares in the company, valued at approximately $13,531,079. This represents a 18.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.25% of the stock is currently owned by company insiders.

Restaurant Brands International Stock Performance

Shares of QSR opened at $73.46 on Monday. The company has a market cap of $24.08 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 2.92 and a beta of 0.60. The firm has a 50-day moving average of $68.44 and a 200-day moving average of $67.29. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $73.70. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.06 and a quick ratio of 0.98.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Thursday, October 30th. The restaurant operator reported $1.03 EPS for the quarter, topping the consensus estimate of $1.00 by $0.03. Restaurant Brands International had a return on equity of 32.43% and a net margin of 9.95%.The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the company posted $0.93 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 23rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, December 23rd. Restaurant Brands International’s dividend payout ratio (DPR) is currently 88.26%.

About Restaurant Brands International

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.