Pictet Asset Management Ltd. raised its stake in Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,571 shares of the restaurant operator’s stock after purchasing an additional 800 shares during the period. Pictet Asset Management Ltd.’s holdings in Restaurant Brands International were worth $5,685,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of QSR. Coastal Capital Group Inc. bought a new stake in Restaurant Brands International in the second quarter valued at $28,000. Coastal Investment Advisors Inc. bought a new stake in Restaurant Brands International in the second quarter valued at $31,000. Signaturefd LLC increased its stake in Restaurant Brands International by 40.3% in the second quarter. Signaturefd LLC now owns 1,097 shares of the restaurant operator’s stock valued at $76,000 after purchasing an additional 315 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Restaurant Brands International in the second quarter valued at $103,000. Finally, Glen Harbor Capital Management LLC increased its stake in Restaurant Brands International by 15.5% in the second quarter. Glen Harbor Capital Management LLC now owns 2,032 shares of the restaurant operator’s stock valued at $136,000 after purchasing an additional 272 shares in the last quarter. 77.68% of the stock is owned by hedge funds and other institutional investors.
QSR stock traded up $2.05 during trading on Tuesday, reaching $73.53. The stock had a trading volume of 1,088,113 shares, compared to its average volume of 2,963,009. Restaurant Brands International Inc has a one year low of $50.20 and a one year high of $79.46. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 3.30. The company’s 50 day moving average is $75.43 and its two-hundred day moving average is $69.24. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 2.86 and a beta of 1.23.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Friday, August 2nd. The restaurant operator reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Restaurant Brands International had a net margin of 10.57% and a return on equity of 30.53%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. As a group, research analysts predict that Restaurant Brands International Inc will post 2.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Tuesday, September 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Monday, September 16th. Restaurant Brands International’s payout ratio is 76.05%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Restaurant Brands International from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Oppenheimer boosted their target price on shares of Restaurant Brands International from $75.00 to $83.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Stephens boosted their target price on shares of Restaurant Brands International from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI assumed coverage on shares of Restaurant Brands International in a research report on Tuesday, June 11th. They set an “outperform” rating for the company. Finally, Barclays set a $86.00 target price on shares of Restaurant Brands International and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $78.74.
In other Restaurant Brands International news, insider Jacqueline Friesner sold 26,392 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $77.30, for a total value of $2,040,101.60. Following the transaction, the insider now directly owns 106,352 shares in the company, valued at $8,221,009.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jose E. Cil sold 122,680 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $77.74, for a total transaction of $9,537,143.20. Following the completion of the transaction, the chief executive officer now owns 647,068 shares in the company, valued at $50,303,066.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 840,294 shares of company stock worth $64,840,016. Corporate insiders own 4.13% of the company’s stock.
Restaurant Brands International Company 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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