Two Sigma Advisers LP cut its holdings in Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 38.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,904,704 shares of the restaurant operator’s stock after selling 1,208,800 shares during the quarter. Two Sigma Advisers LP owned about 0.63% of Restaurant Brands International worth $104,054,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Alliance Wealth Management Group bought a new position in shares of Restaurant Brands International during the second quarter worth $268,000. Toronto Dominion Bank boosted its position in shares of Restaurant Brands International by 78.6% during the second quarter. Toronto Dominion Bank now owns 1,220,953 shares of the restaurant operator’s stock worth $66,461,000 after purchasing an additional 537,277 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Restaurant Brands International by 19.9% during the second quarter. Neuberger Berman Group LLC now owns 185,019 shares of the restaurant operator’s stock worth $10,054,000 after purchasing an additional 30,764 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Restaurant Brands International during the second quarter worth $2,721,000. Finally, Cigna Investments Inc. New bought a new position in shares of Restaurant Brands International during the second quarter worth $228,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Restaurant Brands International from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Credit Suisse Group reissued a “buy” rating and issued a $59.00 price objective on shares of Restaurant Brands International in a report on Tuesday, May 19th. Piper Sandler boosted their price objective on shares of Restaurant Brands International from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Zacks Investment Research raised shares of Restaurant Brands International from a “sell” rating to a “hold” rating and set a $57.00 price objective for the company in a report on Wednesday, May 27th. Finally, Royal Bank of Canada cut their price objective on shares of Restaurant Brands International from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, August 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Restaurant Brands International has a consensus rating of “Buy” and an average price target of $62.20.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Restaurant Brands International had a net margin of 11.82% and a return on equity of 26.85%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was down 25.1% compared to the same quarter last year. Analysts predict that Restaurant Brands International Inc will post 2.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, September 17th. This represents a $2.08 dividend on an annualized basis and a yield of 3.69%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 76.47%.
In other news, Director Carlos Alberto Sicupira sold 29,514 shares of Restaurant Brands International stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $56.02, for a total value of $1,653,374.28. Following the completion of the transaction, the director now owns 167,574 shares in the company, valued at $9,387,495.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Felipe A. Athayde sold 158,000 shares of Restaurant Brands International stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $56.20, for a total transaction of $8,879,600.00. Following the completion of the transaction, the insider now owns 24,667 shares of the company’s stock, valued at approximately $1,386,285.40. The disclosure for this sale can be found here. Company insiders own 3.69% of the company’s stock.
Restaurant Brands International Profile
Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.
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