PNC Financial Services Group Inc. Boosts Stake in Restaurant Brands International Inc. (NYSE:QSR)

PNC Financial Services Group Inc. increased its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 163.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,703 shares of the restaurant operator’s stock after purchasing an additional 10,355 shares during the period. PNC Financial Services Group Inc.’s holdings in Restaurant Brands International were worth $1,305,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pacifica Partners Inc. boosted its position in shares of Restaurant Brands International by 196.0% during the 4th quarter. Pacifica Partners Inc. now owns 370 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 245 shares during the period. Rise Advisors LLC boosted its position in shares of Restaurant Brands International by 88.3% during the 4th quarter. Rise Advisors LLC now owns 371 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 174 shares during the period. Oakworth Capital Inc. purchased a new position in shares of Restaurant Brands International during the 4th quarter worth approximately $30,000. Montag A & Associates Inc. purchased a new position in shares of Restaurant Brands International during the 4th quarter worth approximately $30,000. Finally, Fifth Third Bancorp lifted its holdings in Restaurant Brands International by 209.0% during the 4th quarter. Fifth Third Bancorp now owns 411 shares of the restaurant operator’s stock worth $32,000 after buying an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Stock Up 1.3 %

Shares of NYSE:QSR opened at $69.24 on Friday. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.10 and a beta of 0.92. The firm’s 50-day simple moving average is $70.82 and its 200-day simple moving average is $74.91. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 2.72. Restaurant Brands International Inc. has a fifty-two week low of $61.77 and a fifty-two week high of $83.29.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. Restaurant Brands International had a net margin of 17.17% and a return on equity of 31.12%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts predict that Restaurant Brands International Inc. will post 3.37 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, June 21st. Restaurant Brands International’s dividend payout ratio is currently 59.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on QSR shares. KeyCorp increased their target price on shares of Restaurant Brands International from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Citigroup increased their target price on shares of Restaurant Brands International from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Robert W. Baird increased their target price on shares of Restaurant Brands International from $76.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. TD Cowen reiterated a “buy” rating and set a $88.00 target price on shares of Restaurant Brands International in a report on Thursday, June 13th. Finally, Scotiabank increased their target price on shares of Restaurant Brands International from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.21.

Insider Buying and Selling

In related news, CEO Joshua Kobza sold 246,196 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.17, for a total transaction of $18,506,553.32. Following the sale, the chief executive officer now owns 595,764 shares of the company’s stock, valued at $44,783,579.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Restaurant Brands International news, CEO Joshua Kobza sold 246,196 shares of Restaurant Brands International stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.17, for a total transaction of $18,506,553.32. Following the completion of the transaction, the chief executive officer now owns 595,764 shares in the company, valued at $44,783,579.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ali Hedayat sold 8,537 shares of Restaurant Brands International stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $74.75, for a total transaction of $638,140.75. Following the transaction, the director now owns 22,881 shares of the company’s stock, valued at approximately $1,710,354.75. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

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.