Truist Financial Corp Sells 4,638 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Truist Financial Corp lowered its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 10.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,434 shares of the restaurant operator’s stock after selling 4,638 shares during the period. Truist Financial Corp’s holdings in Restaurant Brands International were worth $2,635,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI grew its stake in shares of Restaurant Brands International by 68.6% in the 3rd quarter. National Bank of Canada FI now owns 3,181,459 shares of the restaurant operator’s stock worth $229,545,000 after buying an additional 1,294,185 shares during the last quarter. Holocene Advisors LP purchased a new stake in Restaurant Brands International during the 3rd quarter valued at $89,790,000. Point72 Asset Management L.P. boosted its stake in shares of Restaurant Brands International by 282.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,465,709 shares of the restaurant operator’s stock worth $105,707,000 after buying an additional 1,082,622 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Restaurant Brands International by 848.9% in the 3rd quarter. Janus Henderson Group PLC now owns 370,973 shares of the restaurant operator’s stock worth $26,756,000 after purchasing an additional 331,880 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Restaurant Brands International by 16.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,207,251 shares of the restaurant operator’s stock worth $159,251,000 after purchasing an additional 307,791 shares during the period. Institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on Restaurant Brands International from $81.00 to $73.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Stifel Nicolaus dropped their price target on Restaurant Brands International from $72.00 to $68.00 and set a “hold” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada dropped their price target on Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup lifted their price target on Restaurant Brands International from $65.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Evercore ISI dropped their target price on Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Restaurant Brands International currently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Activity

In other Restaurant Brands International news, CFO Sami A. Siddiqui sold 18,477 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.35, for a total transaction of $1,152,040.95. Following the transaction, the chief financial officer now owns 55,761 shares in the company, valued at $3,476,698.35. The trade was a 24.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thiago T. Santelmo sold 3,511 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $225,406.20. Following the transaction, the insider now owns 32,937 shares in the company, valued at approximately $2,114,555.40. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,580 shares of company stock valued at $15,761,261 over the last quarter. Company insiders own 1.36% of the company’s stock.

Restaurant Brands International Trading Up 0.8 %

Shares of QSR stock opened at $64.34 on Wednesday. The business’s 50 day moving average is $63.52 and its two-hundred day moving average is $67.68. Restaurant Brands International Inc. has a twelve month low of $59.67 and a twelve month high of $83.29. The company has a market capitalization of $20.87 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Wednesday, February 12th. The restaurant operator reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.29). Restaurant Brands International had a return on equity of 28.53% and a net margin of 12.15%. Equities analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.62 dividend. The ex-dividend date is Friday, March 21st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.85%. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.58. Restaurant Brands International’s payout ratio is currently 77.99%.

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.