Truist Financial Corp Lowers Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Truist Financial Corp lowered its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 31.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,062 shares of the restaurant operator’s stock after selling 21,826 shares during the period. Truist Financial Corp’s holdings in Restaurant Brands International were worth $3,382,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of Restaurant Brands International by 1.1% during the first quarter. Capital World Investors now owns 42,711,485 shares of the restaurant operator’s stock worth $3,393,264,000 after buying an additional 466,929 shares in the last quarter. Vanguard Group Inc. lifted its stake in Restaurant Brands International by 1.2% in the first quarter. Vanguard Group Inc. now owns 12,146,626 shares of the restaurant operator’s stock worth $965,049,000 after acquiring an additional 141,468 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in Restaurant Brands International by 4.9% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock worth $811,907,000 after acquiring an additional 536,124 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Restaurant Brands International by 15.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after purchasing an additional 773,783 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Restaurant Brands International by 10.3% in the 2nd quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock valued at $390,678,000 after purchasing an additional 518,795 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Stock Performance

QSR opened at $69.84 on Wednesday. Restaurant Brands International Inc. has a 1-year low of $61.91 and a 1-year high of $83.29. The stock has a market cap of $22.13 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.13 and a beta of 0.94. The stock’s 50 day simple moving average is $70.13 and its 200 day simple moving average is $71.17. The company has a debt-to-equity ratio of 2.71, a current ratio of 0.78 and a quick ratio of 0.71.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share 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 company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. As a group, equities analysts anticipate that Restaurant Brands International Inc. will post 3.37 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, September 20th. Restaurant Brands International’s payout ratio is currently 59.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QSR. Truist Financial cut their target price 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. Wells Fargo & Company reduced their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Bank of America upped their target price on shares of Restaurant Brands International from $72.00 to $79.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. The Goldman Sachs Group initiated coverage on shares of Restaurant Brands International in a research note on Thursday, June 13th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Guggenheim upped their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.11.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 97,479 shares in the company, valued at $6,866,420.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of Restaurant Brands International stock in a transaction that occurred on Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $6,866,420.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the transaction, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

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.