Restaurant Brands International Inc. (NYSE:QSR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 504,133 shares of the restaurant operator’s stock after selling 7,846 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of Restaurant Brands International worth $35,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in QSR. Mather Group LLC. acquired a new position in shares of Restaurant Brands International in the 1st quarter valued at about $25,000. Crewe Advisors LLC acquired a new position in Restaurant Brands International in the first quarter valued at approximately $48,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Restaurant Brands International in the first quarter valued at approximately $59,000. Parallel Advisors LLC boosted its position in Restaurant Brands International by 24.1% in 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Restaurant Brands International by 22.2% during the 1st quarter. BNP Paribas Financial Markets now owns 1,117 shares of the restaurant operator’s stock worth $89,000 after purchasing an additional 203 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on QSR shares. Morgan Stanley lowered their price target on shares of 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. JPMorgan Chase & Co. raised their target price on Restaurant Brands International from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Truist Financial lowered their price target on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Stifel Nicolaus cut their price objective on Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, Piper Sandler decreased their target price on Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Restaurant Brands International has a consensus rating of “Moderate Buy” and an average target price of $83.11.

Insider Activity

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total value of $448,565.68. Following the completion of the sale, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $70.44, for a total transaction of $2,535,840.00. Following the sale, the insider now directly owns 97,479 shares in the company, valued at $6,866,420.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total transaction of $448,565.68. Following the completion of the transaction, the insider now directly owns 37,179 shares of the company’s stock, valued at approximately $2,551,594.77. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Restaurant Brands International Stock Down 1.1 %

QSR stock opened at $70.29 on Friday. Restaurant Brands International Inc. has a one year low of $61.77 and a one year high of $83.29. The firm has a market cap of $22.27 billion, a PE ratio of 18.12, a PEG ratio of 2.08 and a beta of 0.93. The firm’s 50 day moving average price is $70.22 and its 200-day moving average price is $72.03. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.71 and a current ratio of 0.78.

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

Restaurant Brands International Dividend Announcement

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 given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

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.