Norges Bank purchased a new position in shares of Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,820,684 shares of the restaurant operator’s stock, valued at approximately $260,709,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its holdings in Restaurant Brands International by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 8,451 shares of the restaurant operator’s stock worth $577,000 after purchasing an additional 154 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Restaurant Brands International by 2.0% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 8,029 shares of the restaurant operator’s stock worth $548,000 after purchasing an additional 161 shares during the last quarter. Applied Finance Capital Management LLC raised its holdings in Restaurant Brands International by 1.9% during the 4th quarter. Applied Finance Capital Management LLC now owns 9,440 shares of the restaurant operator’s stock worth $644,000 after purchasing an additional 179 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Restaurant Brands International by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 57,512 shares of the restaurant operator’s stock worth $3,967,000 after purchasing an additional 194 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in Restaurant Brands International by 4.4% during the 3rd quarter. Cresset Asset Management LLC now owns 5,336 shares of the restaurant operator’s stock worth $346,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.
Restaurant Brands International Stock Performance
NYSE:QSR opened at $71.61 on Wednesday. The company has a fifty day moving average of $76.74 and a 200-day moving average of $72.29. The firm has a market capitalization of $24.87 billion, a P/E ratio of 25.21, a P/E/G ratio of 1.89 and a beta of 0.49. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55. Restaurant Brands International Inc. has a twelve month low of $61.33 and a twelve month high of $81.96.
Restaurant Brands International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.60 annualized dividend and a yield of 3.6%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 91.55%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Restaurant Brands International from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Barclays lifted their price objective on shares of Restaurant Brands International from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Piper Sandler upgraded shares of Restaurant Brands International from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $71.00 to $84.00 in a research note on Monday, March 2nd. Morgan Stanley lifted their price objective on shares of Restaurant Brands International from $77.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Restaurant Brands International from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Seventeen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Restaurant Brands International has a consensus rating of “Moderate Buy” and a consensus target price of $83.54.
Read Our Latest Stock Analysis on QSR
Insiders Place Their Bets
In related news, CEO Joshua Kobza sold 200,000 shares of Restaurant Brands International stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $75.05, for a total value of $15,010,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Housman sold 20,000 shares of Restaurant Brands International stock in a transaction on Friday, March 20th. The stock was sold at an average price of $73.48, for a total transaction of $1,469,600.00. Following the transaction, the insider directly owned 162,077 shares in the company, valued at $11,909,417.96. This represents a 10.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 350,000 shares of company stock worth $26,198,650 in the last quarter. Insiders own 1.22% of the company’s stock.
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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