Assenagon Asset Management S.A. Grows Stock Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Assenagon Asset Management S.A. increased its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,922 shares of the restaurant operator’s stock after acquiring an additional 170 shares during the period. Assenagon Asset Management S.A.’s holdings in Restaurant Brands International were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of QSR. Aviva PLC grew its holdings in shares of Restaurant Brands International by 1.3% during the third quarter. Aviva PLC now owns 11,726 shares of the restaurant operator’s stock worth $784,000 after purchasing an additional 149 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Restaurant Brands International by 24.1% during the 4th quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock valued at $62,000 after acquiring an additional 153 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Restaurant Brands International by 2.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,348 shares of the restaurant operator’s stock valued at $423,000 after acquiring an additional 168 shares during the period. Rise Advisors LLC raised its position in shares of Restaurant Brands International by 88.3% during the 4th quarter. Rise Advisors LLC now owns 371 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 174 shares during the last quarter. Finally, Sigma Planning Corp raised its position in shares of Restaurant Brands International by 2.4% during the 3rd quarter. Sigma Planning Corp now owns 7,800 shares of the restaurant operator’s stock worth $520,000 after purchasing an additional 184 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Stock Performance

NYSE QSR traded down $1.06 on Thursday, hitting $67.24. The stock had a trading volume of 2,246,126 shares, compared to its average volume of 1,573,428. Restaurant Brands International Inc. has a one year low of $61.77 and a one year high of $83.29. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 2.72. The stock has a market cap of $21.27 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 2.12 and a beta of 0.92. The company’s 50-day moving average is $74.71 and its two-hundred day moving average is $75.15.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Restaurant Brands International had a net margin of 17.17% and a return on equity of 31.12%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. On average, analysts expect that Restaurant Brands International Inc. will post 3.34 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Friday, June 21st. Restaurant Brands International’s payout ratio is 59.79%.

Insider Buying and Selling

In related news, insider Jill Granat sold 80,332 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $76.20, for a total transaction of $6,121,298.40. Following the completion of the sale, the insider now directly owns 410,759 shares in the company, valued at $31,299,835.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Ali Hedayat sold 8,537 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $74.75, for a total value of $638,140.75. Following the completion of the sale, the director now owns 22,881 shares in the company, valued at approximately $1,710,354.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jill Granat sold 80,332 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $76.20, for a total transaction of $6,121,298.40. Following the completion of the sale, the insider now owns 410,759 shares of the company’s stock, valued at approximately $31,299,835.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 335,065 shares of company stock worth $25,265,992. Corporate insiders own 1.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QSR. Guggenheim boosted their price target on Restaurant Brands International from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. TD Cowen reissued a “buy” rating and set a $84.00 price objective on shares of Restaurant Brands International in a research note on Tuesday, April 30th. Royal Bank of Canada lowered their price objective on shares of Restaurant Brands International from $91.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Evercore boosted their price objective on shares of Restaurant Brands International from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets boosted their price objective on shares of Restaurant Brands International from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.56.

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.