Restaurant Brands International Inc. (NYSE:QSR) Shares Acquired by RDST Capital LLC

RDST Capital LLC boosted its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 600,021 shares of the restaurant operator’s stock after acquiring an additional 73,950 shares during the period. Restaurant Brands International accounts for 11.1% of RDST Capital LLC’s portfolio, making the stock its 2nd largest position. RDST Capital LLC owned 0.19% of Restaurant Brands International worth $42,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its holdings in Restaurant Brands International by 36.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 600,000 shares of the restaurant operator’s stock worth $42,270,000 after purchasing an additional 160,000 shares in the last quarter. D1 Capital Partners L.P. acquired a new position in shares of Restaurant Brands International during the second quarter worth about $200,097,000. 1832 Asset Management L.P. grew its holdings in shares of Restaurant Brands International by 15.6% during the second quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock worth $403,398,000 after buying an additional 773,783 shares in the last quarter. AE Wealth Management LLC raised its position in Restaurant Brands International by 13.3% in the 2nd quarter. AE Wealth Management LLC now owns 8,193 shares of the restaurant operator’s stock valued at $577,000 after buying an additional 960 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Restaurant Brands International by 31.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,490,157 shares of the restaurant operator’s stock valued at $245,881,000 after acquiring an additional 835,000 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Trading Up 0.4 %

NYSE QSR opened at $70.55 on Tuesday. Restaurant Brands International Inc. has a 12 month low of $61.77 and a 12 month high of $83.29. The firm has a market capitalization of $22.35 billion, a P/E ratio of 18.18, a PEG ratio of 2.08 and a beta of 0.93. The business has a fifty day simple moving average of $70.18 and a 200 day simple moving average of $71.84. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 2.71.

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

Restaurant Brands International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio is currently 59.79%.

Analyst Ratings Changes

Several brokerages have issued reports on QSR. Wells Fargo & Company lowered their price target on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Morgan Stanley decreased 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. Genuity Capital Markets cut their target price on shares of Restaurant Brands International from $74.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Guggenheim boosted their target price on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Piper Sandler dropped their price target on Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Restaurant Brands International presently has an average rating of “Moderate Buy” and a consensus target price of $83.11.

Insider Activity

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction 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 sale 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 business’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 value of $448,565.68. Following the completion of the sale, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Axel Mr Schwan sold 36,000 shares of the firm’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 sale, the insider now directly owns 97,479 shares in the company, valued at $6,866,420.76. The disclosure for this sale can be found here. 1.36% of the stock is owned by company 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.