Canoe Financial LP Sells 16,708 Shares of Restaurant Brands International Inc. $QSR

Canoe Financial LP decreased its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,523,267 shares of the restaurant operator’s stock after selling 16,708 shares during the quarter. Restaurant Brands International accounts for 2.3% of Canoe Financial LP’s portfolio, making the stock its 14th largest position. Canoe Financial LP’s holdings in Restaurant Brands International were worth $161,839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QSR. Royal Bank of Canada raised its position in Restaurant Brands International by 16.7% in the first quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator’s stock worth $1,507,839,000 after acquiring an additional 3,230,735 shares during the period. Vanguard Group Inc. increased its stake in shares of Restaurant Brands International by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,303,726 shares of the restaurant operator’s stock worth $1,015,137,000 after purchasing an additional 1,134,665 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in Restaurant Brands International by 7.0% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,715,604 shares of the restaurant operator’s stock worth $914,463,000 after purchasing an additional 896,034 shares during the period. Goldman Sachs Group Inc. lifted its position in Restaurant Brands International by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,108,527 shares of the restaurant operator’s stock valued at $540,352,000 after purchasing an additional 47,192 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Restaurant Brands International by 18.5% during the second quarter. TD Asset Management Inc now owns 5,486,897 shares of the restaurant operator’s stock valued at $363,243,000 after purchasing an additional 855,436 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Sami A. Siddiqui sold 10,913 shares of Restaurant Brands International stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $70.87, for a total value of $773,404.31. Following the sale, the chief financial officer directly owned 10,609 shares of the company’s stock, valued at approximately $751,859.83. The trade was a 50.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ali Hedayat sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $72.77, for a total value of $509,390.00. Following the completion of the sale, the director owned 18,962 shares in the company, valued at $1,379,864.74. This represents a 26.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 corporate insiders.

Restaurant Brands International Trading Up 1.3%

Shares of QSR opened at $69.74 on Friday. The firm has a market cap of $22.87 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 2.76 and a beta of 0.60. 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 Inc. has a 1 year low of $58.71 and a 1 year high of $73.70. The company has a 50 day simple moving average of $69.31 and a two-hundred day simple moving average of $67.27.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results 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. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.39 billion. Restaurant Brands International had a net margin of 9.95% and a return on equity of 32.43%. Restaurant Brands International’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 23rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 23rd. Restaurant Brands International’s dividend payout ratio is 88.26%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird raised their price objective 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. Northcoast Research cut shares of Restaurant Brands International from a “buy” rating to a “neutral” rating in a research note on Friday, September 12th. Argus raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, December 2nd. 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 restated 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 given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.45.

About Restaurant Brands International

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.