Wellington Management Group LLP Sells 1,030 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Wellington Management Group LLP trimmed its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,958 shares of the restaurant operator’s stock after selling 1,030 shares during the period. Wellington Management Group LLP’s holdings in Restaurant Brands International were worth $6,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of Restaurant Brands International by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock worth $62,000 after purchasing an additional 153 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Restaurant Brands International by 2.7% in the third quarter. PNC Financial Services Group Inc. now owns 6,348 shares of the restaurant operator’s stock valued at $423,000 after buying an additional 168 shares during the period. Rise Advisors LLC lifted its position in shares of Restaurant Brands International by 88.3% in the fourth quarter. Rise Advisors LLC now owns 371 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 174 shares during the last quarter. Waldron Private Wealth LLC boosted its stake in shares of Restaurant Brands International by 4.5% during the 4th quarter. Waldron Private Wealth LLC now owns 4,647 shares of the restaurant operator’s stock worth $365,000 after acquiring an additional 199 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Restaurant Brands International by 0.6% during the 3rd quarter. Townsquare Capital LLC now owns 33,915 shares of the restaurant operator’s stock worth $2,259,000 after acquiring an additional 212 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

QSR has been the subject of several research reports. KeyCorp cut their price target on Restaurant Brands International from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group initiated coverage on shares of Restaurant Brands International in a report on Thursday, June 13th. They set a “buy” rating and a $80.00 target price for the company. Scotiabank increased their price target on shares of Restaurant Brands International from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Piper Sandler reduced their price objective on Restaurant Brands International from $84.00 to $82.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Barclays upped their target price on Restaurant Brands International from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.03.

Restaurant Brands International Price Performance

Shares of NYSE:QSR opened at $70.45 on Friday. Restaurant Brands International Inc. has a one year low of $61.77 and a one year high of $83.29. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.08 and a quick ratio of 1.00. The company has a market cap of $22.32 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.11 and a beta of 0.92. The firm has a 50 day simple moving average of $70.70 and a 200 day simple moving average of $74.80.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Restaurant Brands International had a return on equity of 31.12% and a net margin of 17.17%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company earned $0.75 EPS. Restaurant Brands International’s revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Restaurant Brands International Inc. will post 3.37 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The firm 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 $0.58 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.32 dividend on an annualized basis and a yield of 3.29%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 59.79%.

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.