JARISLOWSKY FRASER Ltd Reduces Stake in Restaurant Brands International Inc. (NYSE:QSR)

JARISLOWSKY FRASER Ltd cut its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,673,716 shares of the restaurant operator’s stock after selling 82,979 shares during the quarter. Restaurant Brands International comprises 2.9% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 9th biggest holding. JARISLOWSKY FRASER Ltd owned approximately 2.11% of Restaurant Brands International worth $470,162,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barometer Capital Management Inc. boosted its position in shares of Restaurant Brands International by 27,623.2% during the fourth quarter. Barometer Capital Management Inc. now owns 80,120 shares of the restaurant operator’s stock valued at $6,260,000 after purchasing an additional 79,831 shares in the last quarter. Royal Fund Management LLC bought a new stake in shares of Restaurant Brands International during the first quarter valued at approximately $1,067,000. Quantbot Technologies LP bought a new stake in shares of Restaurant Brands International during the first quarter valued at approximately $850,000. Oppenheimer & Co. Inc. boosted its holdings in Restaurant Brands International by 16.5% in the first quarter. Oppenheimer & Co. Inc. now owns 74,421 shares of the restaurant operator’s stock worth $5,913,000 after acquiring an additional 10,544 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Restaurant Brands International by 6.1% in the first quarter. Russell Investments Group Ltd. now owns 124,770 shares of the restaurant operator’s stock worth $9,915,000 after acquiring an additional 7,196 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the completion of the transaction, the insider now owns 37,179 shares of the company’s stock, valued at $2,551,594.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the completion of the transaction, the insider now owns 37,179 shares of the company’s stock, valued at $2,551,594.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $70.44, for a total value of $2,535,840.00. Following the completion of the transaction, the insider now directly owns 97,479 shares of the company’s stock, valued at approximately $6,866,420.76. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial dropped their target price on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Morgan Stanley dropped their target price on Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Wells Fargo & Company dropped their target price on Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Bank of America boosted their target price on Restaurant Brands International from $72.00 to $79.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group initiated coverage on Restaurant Brands International in a report on Thursday, June 13th. They issued a “buy” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.11.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $69.26 on Thursday. The stock has a 50-day simple moving average of $70.29 and a two-hundred day simple moving average of $72.09. Restaurant Brands International Inc. has a 52-week low of $61.77 and a 52-week high of $83.29. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.71 and a current ratio of 0.78. The firm has a market capitalization of $21.94 billion, a PE ratio of 17.85, a P/E/G ratio of 2.08 and a beta of 0.93.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.01. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Analysts forecast that Restaurant Brands International Inc. will post 3.36 EPS for the current year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

About Restaurant Brands International

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.