Squarepoint Ops LLC Trims Position in Restaurant Brands International Inc. $QSR

Squarepoint Ops LLC trimmed its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 43.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,214 shares of the restaurant operator’s stock after selling 26,778 shares during the period. Squarepoint Ops LLC’s holdings in Restaurant Brands International were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in QSR. Jump Financial LLC purchased a new stake in shares of Restaurant Brands International in the first quarter valued at approximately $432,000. Raymond James Financial Inc. raised its position in Restaurant Brands International by 90.9% during the 1st quarter. Raymond James Financial Inc. now owns 563,747 shares of the restaurant operator’s stock valued at $37,568,000 after purchasing an additional 268,511 shares in the last quarter. Partners Capital Investment Group LLP lifted its holdings in shares of Restaurant Brands International by 91.2% in the 1st 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 period. Allspring Global Investments Holdings LLC grew its position in shares of Restaurant Brands International by 11.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 78,845 shares of the restaurant operator’s stock worth $5,355,000 after buying an additional 7,988 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Restaurant Brands International by 16.7% during the 1st quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator’s stock worth $1,507,839,000 after buying an additional 3,230,735 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

Restaurant Brands International Stock Performance

Shares of QSR stock opened at $69.89 on Friday. The business’s fifty day simple moving average is $69.12 and its 200-day simple moving average is $67.33. The company has a market cap of $22.91 billion, a PE ratio of 24.87, a PEG ratio of 2.79 and a beta of 0.60. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 2.65. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $73.70.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, October 30th. The restaurant operator reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm earned $0.93 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 23rd will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, December 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.5%. Restaurant Brands International’s payout ratio is presently 88.26%.

Insider Activity

In related news, Chairman J Patrick Doyle sold 43,597 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $69.80, for a total value of $3,043,070.60. Following the completion of the transaction, the chairman directly owned 193,855 shares of the company’s stock, valued at $13,531,079. This trade represents a 18.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joshua Kobza sold 25,472 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $70.91, for a total transaction of $1,806,219.52. Following the sale, the chief executive officer directly owned 961,282 shares in the company, valued at approximately $68,164,506.62. This represents a 2.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 131,807 shares of company stock valued at $9,308,973. 1.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on QSR. Oppenheimer restated an “outperform” rating and issued a $80.00 price objective on shares of Restaurant Brands International in a report on Tuesday, November 25th. Northcoast Research lowered shares of Restaurant Brands International from a “buy” rating to a “neutral” rating in a report on Friday, September 12th. Citigroup increased their price objective on shares of Restaurant Brands International from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Morgan Stanley set a $77.00 price objective on shares of Restaurant Brands International in a research note on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Restaurant Brands International in a research report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Restaurant Brands International currently has an average rating of “Hold” and a consensus target price of $75.45.

Restaurant Brands International Company Profile

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.