Iridian Asset Management LLC CT Sells 10,679 Shares of Restaurant Brands International Inc. $QSR

Iridian Asset Management LLC CT lowered its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 22.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,710 shares of the restaurant operator’s stock after selling 10,679 shares during the quarter. Restaurant Brands International makes up about 0.9% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 28th largest position. Iridian Asset Management LLC CT’s holdings in Restaurant Brands International were worth $2,505,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ritholtz Wealth Management boosted its holdings in shares of Restaurant Brands International by 5.5% during the 4th quarter. Ritholtz Wealth Management now owns 5,257 shares of the restaurant operator’s stock valued at $359,000 after purchasing an additional 274 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Restaurant Brands International by 24.1% during the 4th quarter. Signaturefd LLC now owns 8,270 shares of the restaurant operator’s stock valued at $564,000 after purchasing an additional 1,607 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Restaurant Brands International during the 4th quarter valued at about $129,000. Kendall Capital Management boosted its holdings in shares of Restaurant Brands International by 3.1% during the 4th quarter. Kendall Capital Management now owns 12,545 shares of the restaurant operator’s stock valued at $856,000 after purchasing an additional 380 shares during the last quarter. Finally, Dorato Capital Management bought a new position in shares of Restaurant Brands International during the 4th quarter valued at about $933,000. Institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. BMO Capital Markets dropped their price objective on shares of Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Stifel Nicolaus upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $90.00 in a research report on Monday, March 2nd. Guggenheim upped their target price on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Restaurant Brands International in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Restaurant Brands International from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and an average target price of $79.19.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Jacqueline Friesner sold 30,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $74.61, for a total transaction of $2,238,300.00. Following the transaction, the insider directly owned 165,727 shares in the company, valued at approximately $12,364,891.47. This trade represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jill Granat sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $75.09, for a total transaction of $1,877,250.00. Following the transaction, the insider owned 478,845 shares in the company, valued at approximately $35,956,471.05. This represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 441,490 shares of company stock valued at $32,375,140. 1.25% of the stock is owned by corporate insiders.

Restaurant Brands International Stock Performance

Restaurant Brands International stock opened at $76.45 on Monday. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.91. Restaurant Brands International Inc. has a 1-year low of $60.80 and a 1-year high of $78.43. The firm has a market capitalization of $26.54 billion, a P/E ratio of 32.39, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. The company’s 50-day moving average is $71.99 and its 200 day moving average is $69.80.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Restaurant Brands International had a net margin of 8.23% and a return on equity of 32.51%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, March 19th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, March 19th. Restaurant Brands International’s dividend payout ratio is 110.17%.

About Restaurant Brands International

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.