Suvretta Capital Management LLC Purchases 415,540 Shares of Restaurant Brands International Inc. (QSR)

Suvretta Capital Management LLC increased its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,861,310 shares of the restaurant operator’s stock after purchasing an additional 415,540 shares during the quarter. Restaurant Brands International accounts for approximately 7.0% of Suvretta Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Suvretta Capital Management LLC owned 1.63% of Restaurant Brands International worth $246,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QSR. FMR LLC lifted its holdings in shares of Restaurant Brands International by 10.9% in the second quarter. FMR LLC now owns 15,492,590 shares of the restaurant operator’s stock worth $969,362,000 after acquiring an additional 1,528,447 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Restaurant Brands International by 481.6% in the second quarter. Fiera Capital Corp now owns 1,338,343 shares of the restaurant operator’s stock worth $83,591,000 after acquiring an additional 1,108,231 shares during the last quarter. Mik Capital LLC bought a new position in shares of Restaurant Brands International in the second quarter worth about $52,536,000. CI Global Investments Inc. lifted its holdings in shares of Restaurant Brands International by 15,143.9% in the second quarter. CI Global Investments Inc. now owns 500,000 shares of the restaurant operator’s stock worth $31,270,000 after acquiring an additional 496,720 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in shares of Restaurant Brands International in the second quarter worth about $29,644,000. 78.39% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on QSR shares. BidaskClub cut shares of Restaurant Brands International from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Bank of America reissued a “neutral” rating and issued a $62.00 target price on shares of Restaurant Brands International in a report on Monday, August 14th. UBS set a $68.00 target price on shares of Restaurant Brands International and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Tuesday, August 29th. Finally, Credit Suisse Group raised shares of Restaurant Brands International from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $74.00 in a report on Thursday, September 7th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $69.88.

Restaurant Brands International Inc. (QSR) traded up $0.38 during trading on Thursday, hitting $61.17. The stock had a trading volume of 2,105,100 shares, compared to its average volume of 1,106,714. Restaurant Brands International Inc. has a one year low of $46.88 and a one year high of $68.89. The company has a debt-to-equity ratio of 2.70, a current ratio of 3.45 and a quick ratio of 3.38. The firm has a market capitalization of $14,439.61, a P/E ratio of 32.16, a P/E/G ratio of 1.81 and a beta of 1.69.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Thursday, October 26th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.09. Restaurant Brands International had a return on equity of 23.53% and a net margin of 12.40%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. equities research analysts predict that Restaurant Brands International Inc. will post 1.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.20. Restaurant Brands International’s dividend payout ratio is currently 55.17%.

In other Restaurant Brands International news, major shareholder Restaurant Brands Holdings 3G sold 4,050,594 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $64.70, for a total transaction of $262,073,431.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Caira sold 49,804 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $65.62, for a total transaction of $3,268,138.48. Following the sale, the director now directly owns 124,643 shares of the company’s stock, valued at approximately $8,179,073.66. The disclosure for this sale can be found here. Insiders have sold a total of 5,249,909 shares of company stock valued at $339,590,312 in the last three months. Insiders own 3.05% of the company’s stock.

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Restaurant Brands International Company Profile

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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Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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