Seven Grand Managers LLC acquired a new stake in Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 350,000 shares of the restaurant operator’s stock, valued at approximately $23,880,000. Restaurant Brands International comprises approximately 1.8% of Seven Grand Managers LLC’s investment portfolio, making the stock its 15th biggest holding.
Other hedge funds have also modified their holdings of the company. D.A. Davidson & CO. increased its holdings in Restaurant Brands International by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 8,451 shares of the restaurant operator’s stock valued at $577,000 after buying an additional 154 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in Restaurant Brands International by 2.0% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 8,029 shares of the restaurant operator’s stock valued at $548,000 after buying an additional 161 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in Restaurant Brands International by 1.9% in the fourth quarter. Applied Finance Capital Management LLC now owns 9,440 shares of the restaurant operator’s stock valued at $644,000 after buying an additional 179 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Restaurant Brands International by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 57,512 shares of the restaurant operator’s stock valued at $3,967,000 after buying an additional 194 shares during the last quarter. Finally, Cresset Asset Management LLC increased its holdings in Restaurant Brands International by 4.4% in the third quarter. Cresset Asset Management LLC now owns 5,336 shares of the restaurant operator’s stock valued at $346,000 after buying an additional 225 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.
Restaurant Brands International Stock Performance
Shares of QSR stock opened at $74.71 on Thursday. The stock’s 50-day moving average is $76.78 and its two-hundred day moving average is $72.18. The firm has a market cap of $25.95 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.95 and a beta of 0.53. Restaurant Brands International Inc. has a 1 year low of $61.33 and a 1 year high of $81.96. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99.
Restaurant Brands International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 91.55%.
Insider Activity at Restaurant Brands International
In other Restaurant Brands International news, CEO Joshua Kobza sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $75.05, for a total transaction of $15,010,000.00. Following the transaction, the chief executive officer owned 960,769 shares of the company’s stock, valued at approximately $72,105,713.45. This trade represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline Friesner sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $74.61, for a total value 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. The trade was a 15.33% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 350,000 shares of company stock valued at $26,198,650. Corporate insiders own 1.25% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on QSR. Oppenheimer increased their target price on Restaurant Brands International from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. BMO Capital Markets dropped their target price on Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Royal Bank Of Canada increased their target price on Restaurant Brands International from $83.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Scotia increased their target price on Restaurant Brands International from $81.00 to $83.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Finally, Weiss Ratings raised Restaurant Brands International from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.54.
Check Out Our Latest Stock Analysis on QSR
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.
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