Highstreet Asset Management Inc. boosted its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 40.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 52,563 shares of the restaurant operator’s stock after buying an additional 15,012 shares during the period. Highstreet Asset Management Inc.’s holdings in Restaurant Brands International were worth $3,358,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its holdings in Restaurant Brands International by 10.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 200 shares during the period. Commonwealth Bank of Australia raised its holdings in Restaurant Brands International by 9.0% in the second quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock valued at $197,000 after buying an additional 261 shares during the period. PNC Financial Services Group Inc. raised its holdings in Restaurant Brands International by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after buying an additional 306 shares during the period. Cigna Investments Inc. New purchased a new position in Restaurant Brands International in the second quarter valued at approximately $211,000. Finally, Tower Research Capital LLC TRC raised its holdings in Restaurant Brands International by 82.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,446 shares of the restaurant operator’s stock valued at $280,000 after buying an additional 1,560 shares during the period. Hedge funds and other institutional investors own 76.42% of the company’s stock.
Shares of Restaurant Brands International Inc. (QSR) opened at 65.15 on Friday. The stock’s 50 day moving average is $65.10 and its 200-day moving average is $61.34. The firm has a market cap of $15.39 billion, a P/E ratio of 45.59 and a beta of 1.77. Restaurant Brands International Inc. has a 52-week low of $42.35 and a 52-week high of $68.89.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Thursday, October 26th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Restaurant Brands International had a return on equity of 24.53% and a net margin of 12.40%. Restaurant Brands International’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. Equities analysts anticipate that Restaurant Brands International Inc. will post $1.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 14th. Restaurant Brands International’s dividend payout ratio is presently 55.17%.
Restaurant Brands International declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the restaurant operator to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In related news, EVP Jose E. Cil sold 132,911 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $63.77, for a total value of $8,475,734.47. Following the completion of the transaction, the executive vice president now directly owns 174,631 shares in the company, valued at $11,136,218.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ali Hedayat bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $61.32 per share, with a total value of $306,600.00. Following the completion of the purchase, the director now directly owns 25,966 shares of the company’s stock, valued at approximately $1,592,235.12. The disclosure for this purchase can be found here. Corporate insiders own 3.05% of the company’s stock.
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Several research firms recently commented on QSR. Zacks Investment Research lowered shares of Restaurant Brands International from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub upgraded shares of Restaurant Brands International from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Scotiabank lifted their price objective on shares of Restaurant Brands International from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. OTR Global upgraded shares of Restaurant Brands International to a “positive” rating in a research note on Monday, October 16th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $69.00 price objective on shares of Restaurant Brands International in a research note on Monday, September 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Restaurant Brands International presently has an average rating of “Buy” and a consensus target price of $69.06.
About Restaurant Brands International
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.
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