Baskin Financial Services Inc. trimmed its position in shares of Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) by 3.0% during the third quarter, Holdings Channel.com reports. The fund owned 326,922 shares of the restaurant operator’s stock after selling 10,009 shares during the quarter. Restaurant Brands International comprises 1.9% of Baskin Financial Services Inc.’s portfolio, making the stock its 24th biggest holding. Baskin Financial Services Inc.’s holdings in Restaurant Brands International were worth $23,248,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. boosted its holdings in Restaurant Brands International by 4.4% during the third quarter. TD Waterhouse Canada Inc. now owns 2,583,329 shares of the restaurant operator’s stock worth $180,116,000 after purchasing an additional 109,723 shares during the last quarter. NFSG Corp purchased a new stake in Restaurant Brands International in the 3rd quarter valued at about $28,000. Financial & Tax Architects LLC increased its stake in Restaurant Brands International by 26.3% in the 3rd quarter. Financial & Tax Architects LLC now owns 8,948 shares of the restaurant operator’s stock valued at $636,000 after buying an additional 1,861 shares during the last quarter. Triasima Portfolio Management inc. lifted its position in shares of Restaurant Brands International by 177.3% during the 3rd quarter. Triasima Portfolio Management inc. now owns 74,318 shares of the restaurant operator’s stock worth $5,301,000 after buying an additional 47,518 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new position in shares of Restaurant Brands International during the 3rd quarter worth approximately $729,000. Institutional investors own 82.29% of the company’s stock.
Restaurant Brands International Stock Performance
Shares of QSR stock traded down $0.29 on Monday, hitting $74.52. 653,019 shares of the stock were exchanged, compared to its average volume of 3,193,832. The firm’s 50 day moving average is $75.06 and its two-hundred day moving average is $75.29. Restaurant Brands International Inc. has a one year low of $64.52 and a one year high of $81.96. The firm has a market capitalization of $25.99 billion, a PE ratio of 20.03, a P/E/G ratio of 2.01 and a beta of 0.52. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 2.49.
Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Restaurant Brands International had a return on equity of 33.43% and a net margin of 13.12%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. Sell-side analysts expect that Restaurant Brands International Inc. will post 4.19 earnings per share for the current fiscal year.
Restaurant Brands International Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 18th were paid a $0.65 dividend. The ex-dividend date was Friday, September 18th. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 69.89%.
Insider Activity
In other news, insider Axel Schwan sold 57,574 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $81.14, for a total value of $4,671,554.36. Following the sale, the insider owned 209,908 shares of the company’s stock, valued at $17,031,935.12. The trade was a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
QSR has been the subject of several recent analyst reports. Guggenheim upped their target price on Restaurant Brands International from $85.00 to $86.00 and gave the company a “buy” rating in a report on Friday, September 18th. Evercore reissued an “outperform” rating and issued a $88.00 price objective on shares of Restaurant Brands International in a research report on Friday, August 7th. Robert W. Baird upped their price objective on Restaurant Brands International from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. Weiss Ratings raised Restaurant Brands International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Seaport Research Partners initiated coverage on Restaurant Brands International in a research note on Wednesday, September 16th. They set a “buy” rating and a $88.00 target price on the stock. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Restaurant Brands International currently has an average rating of “Moderate Buy” and an average price target of $83.75.
Restaurant Brands International Company Profile
Restaurant Brands International Inc (NYSE:QSR) is a global quick-service restaurant company that owns and operates a portfolio of restaurant brands, primarily through franchised and licensed locations. Its brands include Tim Hortons, Burger King, Popeyes and Firehouse Subs, which serve coffee, baked goods, burgers, chicken, sandwiches and other prepared foods.
The company was formed in 2014 through the merger of Burger King Worldwide and Tim Hortons. RBI expanded its portfolio through the acquisition of Popeyes Louisiana Kitchen in 2017 and Firehouse Restaurant Group in 2021.
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