Raymond James & Associates Trims Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Raymond James & Associates trimmed its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,338 shares of the restaurant operator’s stock after selling 331 shares during the quarter. Raymond James & Associates’ holdings in Restaurant Brands International were worth $5,578,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Restaurant Brands International in the first quarter worth approximately $48,000. BNP Paribas Financial Markets boosted its stake in shares of Restaurant Brands International by 22.2% in the first quarter. BNP Paribas Financial Markets now owns 1,117 shares of the restaurant operator’s stock worth $89,000 after acquiring an additional 203 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Restaurant Brands International in the first quarter worth approximately $94,000. Blue Trust Inc. boosted its stake in shares of Restaurant Brands International by 123.9% in the third quarter. Blue Trust Inc. now owns 1,388 shares of the restaurant operator’s stock worth $98,000 after acquiring an additional 768 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Restaurant Brands International by 67.0% during the third quarter. GAMMA Investing LLC now owns 1,754 shares of the restaurant operator’s stock worth $126,000 after buying an additional 704 shares during the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Restaurant Brands International

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

Wall Street Analyst Weigh In

QSR has been the topic of a number of analyst reports. Truist Financial reduced their target price on shares of Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Piper Sandler reduced their target price on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Morgan Stanley reduced their target price on shares of Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. TD Cowen reiterated a “buy” rating and set a $82.00 price target on shares of Restaurant Brands International in a research report on Thursday, September 12th. Finally, Wells Fargo & Company dropped their price target 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Restaurant Brands International currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.15.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $69.98 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 2.71. Restaurant Brands International Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $83.29. The stock has a market cap of $22.65 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 2.09 and a beta of 0.94. The firm’s fifty day simple moving average is $70.27 and its 200-day simple moving average is $70.59.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted 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 business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Analysts expect that Restaurant Brands International Inc. will post 3.37 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.32%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 58.15%.

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.