1832 Asset Management L.P. Sells 119,727 Shares of Restaurant Brands International Inc. $QSR

1832 Asset Management L.P. lessened its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,840,030 shares of the restaurant operator’s stock after selling 119,727 shares during the quarter. 1832 Asset Management L.P.’s holdings in Restaurant Brands International were worth $453,426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QSR. Blueshift Asset Management LLC acquired a new stake in shares of Restaurant Brands International in the second quarter valued at about $1,222,000. Westerkirk Capital Inc. acquired a new position in shares of Restaurant Brands International during the 2nd quarter worth about $1,100,000. M&T Bank Corp boosted its stake in Restaurant Brands International by 1.7% during the 2nd quarter. M&T Bank Corp now owns 24,623 shares of the restaurant operator’s stock valued at $1,632,000 after purchasing an additional 421 shares during the period. River Road Asset Management LLC boosted its stake in Restaurant Brands International by 90.4% during the 2nd quarter. River Road Asset Management LLC now owns 863,170 shares of the restaurant operator’s stock valued at $58,575,000 after purchasing an additional 409,934 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Restaurant Brands International in the 2nd quarter valued at approximately $8,585,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Wall Street Analyst Weigh In

QSR has been the subject of a number of research analyst reports. Piper Sandler cut their price target on Restaurant Brands International from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, August 8th. Northcoast Research lowered shares of Restaurant Brands International from a “buy” rating to a “neutral” rating in a research report on Friday, September 12th. Citigroup increased 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. Sanford C. Bernstein set a $78.00 price target on shares of Restaurant Brands International in a research report on Friday, August 8th. Finally, Scotiabank boosted their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Restaurant Brands International currently has a consensus rating of “Hold” and an average price target of $75.23.

Insider Activity

In other Restaurant Brands International news, Director Ali Hedayat sold 7,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $72.77, for a total transaction of $509,390.00. Following the sale, the director owned 18,962 shares of the company’s stock, valued at $1,379,864.74. This represents a 26.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman J Patrick Doyle sold 43,597 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $69.80, for a total transaction of $3,043,070.60. Following the transaction, the chairman owned 193,855 shares in the company, valued at $13,531,079. The trade was 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 owned by corporate insiders.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $71.34 on Wednesday. The stock has a market capitalization of $23.38 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 2.85 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 1 year low of $58.71 and a 1 year high of $73.13. The firm has a 50 day moving average of $67.97 and a 200-day moving average of $67.25.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Thursday, October 30th. The restaurant operator reported $1.03 earnings per share for the quarter, beating 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 period last year, the firm posted $0.93 EPS. The business’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

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 issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, December 23rd. Restaurant Brands International’s payout ratio is currently 88.26%.

Restaurant Brands International 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.