Canada Pension Plan Investment Board trimmed its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 95.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,137 shares of the restaurant operator’s stock after selling 287,463 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Restaurant Brands International were worth $901,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Restaurant Brands International in the first quarter worth approximately $4,804,000. AQR Capital Management LLC lifted its stake in shares of Restaurant Brands International by 7.1% in the first quarter. AQR Capital Management LLC now owns 34,633 shares of the restaurant operator’s stock worth $1,924,000 after acquiring an additional 2,308 shares during the period. NN Investment Partners Holdings N.V. lifted its stake in shares of Restaurant Brands International by 277.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 5,867 shares of the restaurant operator’s stock worth $367,000 after acquiring an additional 4,313 shares during the period. Aperio Group LLC lifted its stake in shares of Restaurant Brands International by 14.4% in the second quarter. Aperio Group LLC now owns 66,741 shares of the restaurant operator’s stock worth $4,174,000 after acquiring an additional 8,419 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Restaurant Brands International by 8.4% in the second quarter. US Bancorp DE now owns 9,007 shares of the restaurant operator’s stock worth $563,000 after acquiring an additional 698 shares during the period. 78.39% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Jose E. Cil sold 132,911 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $63.77, for a total transaction of $8,475,734.47. Following the transaction, the executive vice president now directly owns 174,631 shares in the company, valued at approximately $11,136,218.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Restaurant Brands Holdings 3G sold 4,050,594 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $64.70, for a total value of $262,073,431.80. The disclosure for this sale can be found here. Insiders sold a total of 5,249,909 shares of company stock worth $339,590,312 over the last 90 days. Corporate insiders own 3.05% of the company’s stock.
Shares of Restaurant Brands International Inc. (NYSE:QSR) traded up $0.38 during midday trading on Wednesday, hitting $61.17. The stock had a trading volume of 2,105,136 shares, compared to its average volume of 1,106,714. The stock has a market cap of $14,477.61, a PE ratio of 32.25, a PEG ratio of 1.81 and a beta of 1.69. The company has a debt-to-equity ratio of 2.70, a current ratio of 3.45 and a quick ratio of 3.38. Restaurant Brands International Inc. has a 1 year low of $46.88 and a 1 year high of $68.89.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Thursday, October 26th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Restaurant Brands International had a return on equity of 23.53% and a net margin of 12.40%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 EPS. research analysts forecast that Restaurant Brands International Inc. will post 1.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be paid a $0.21 dividend. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, December 14th. Restaurant Brands International’s dividend payout ratio is currently 55.17%.
QSR has been the topic of several recent analyst reports. BidaskClub lowered Restaurant Brands International from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Bank of America restated a “neutral” rating and set a $62.00 price objective on shares of Restaurant Brands International in a report on Monday, August 14th. UBS set a $68.00 price objective on Restaurant Brands International and gave the company a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, August 29th. Finally, Credit Suisse Group upgraded Restaurant Brands International from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $60.00 to $74.00 in a report on Thursday, September 7th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $69.88.
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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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