1832 Asset Management L.P. Grows Stake in Restaurant Brands International Inc. (NYSE:QSR)

1832 Asset Management L.P. raised its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,732,531 shares of the restaurant operator’s stock after purchasing an additional 773,783 shares during the quarter. 1832 Asset Management L.P. owned about 1.81% of Restaurant Brands International worth $403,398,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. AE Wealth Management LLC increased its position in shares of Restaurant Brands International by 13.3% during the second quarter. AE Wealth Management LLC now owns 8,193 shares of the restaurant operator’s stock worth $577,000 after acquiring an additional 960 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Restaurant Brands International by 31.4% during the second quarter. Canada Pension Plan Investment Board now owns 3,490,157 shares of the restaurant operator’s stock worth $245,881,000 after acquiring an additional 835,000 shares during the last quarter. Kendall Capital Management increased its position in shares of Restaurant Brands International by 7.0% during the second quarter. Kendall Capital Management now owns 11,390 shares of the restaurant operator’s stock worth $802,000 after acquiring an additional 750 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Restaurant Brands International by 3.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,264 shares of the restaurant operator’s stock worth $793,000 after acquiring an additional 395 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. purchased a new stake in shares of Restaurant Brands International during the second quarter worth about $2,463,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on QSR shares. Genuity Capital Markets dropped their target price on 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. Bank of America lifted their target price on Restaurant Brands International from $72.00 to $79.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Stifel Nicolaus dropped their target price on Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. The Goldman Sachs Group assumed coverage on Restaurant Brands International in a research note on Thursday, June 13th. They issued a “buy” rating and a $80.00 price target for the company. Finally, Guggenheim lifted their price target on Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Restaurant Brands International has an average rating of “Moderate Buy” and a consensus price target of $83.11.

Insider Buying and Selling

In related news, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total transaction of $2,535,840.00. Following the sale, the insider now owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total transaction of $2,535,840.00. Following the sale, the insider now owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Restaurant Brands International Stock Performance

QSR opened at $70.28 on Friday. The business’s 50 day moving average is $70.22 and its 200-day moving average is $71.98. The stock has a market cap of $22.26 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.08 and a beta of 0.93. 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 Inc. has a twelve month low of $61.77 and a twelve month high of $83.29.

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

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, September 20th. This represents a $2.32 annualized dividend and a yield of 3.30%. Restaurant Brands International’s payout ratio is 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.