Restaurant Brands International Inc. (NYSE:QSR – Get Free Report) (TSE:QSR) saw unusually-high trading volume on Thursday . Approximately 12,764,578 shares changed hands during trading, an increase of 303% from the previous session’s volume of 3,168,486 shares.The stock last traded at $74.2180 and had previously closed at $74.95.
Wall Street Analyst Weigh In
QSR has been the subject of a number of research analyst reports. Piper Sandler lowered their target price on Restaurant Brands International from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Seaport Research Partners initiated coverage on Restaurant Brands International in a research report on Wednesday. They set a “buy” rating and a $88.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Restaurant Brands International from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. TD Cowen increased their price objective on Restaurant Brands International from $79.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. Finally, Evercore reissued an “outperform” rating and set a $88.00 price objective on shares of Restaurant Brands International in a research report on Friday, August 7th. Sixteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.04.
Get Our Latest Research Report on QSR
Restaurant Brands International Trading Down 0.6%
Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts forecast that Restaurant Brands International Inc. will post 4.04 earnings per share for the current year.
Restaurant Brands International Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, September 18th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 69.89%.
Insider Activity at Restaurant Brands International
In other Restaurant Brands International news, insider Axel Schwan sold 57,574 shares of Restaurant Brands International stock in a transaction on Friday, September 4th. The stock was sold at an average price of $81.14, for a total value of $4,671,554.36. Following the completion of the sale, the insider owned 209,908 shares of the company’s stock, valued at approximately $17,031,935.12. This trade represents a 21.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.22% of the company’s stock.
Institutional Investors Weigh In On Restaurant Brands International
Institutional investors have recently modified their holdings of the business. Capital World Investors raised its position in Restaurant Brands International by 7.7% in the 4th quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator’s stock worth $2,969,819,000 after buying an additional 3,095,167 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Restaurant Brands International by 16.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator’s stock valued at $1,432,015,000 after acquiring an additional 2,703,134 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Restaurant Brands International by 38.2% in the fourth quarter. Fiera Capital Corp now owns 6,835,522 shares of the restaurant operator’s stock worth $466,595,000 after acquiring an additional 1,889,359 shares during the period. TD Asset Management Inc grew its stake in shares of Restaurant Brands International by 0.7% in the fourth quarter. TD Asset Management Inc now owns 5,544,780 shares of the restaurant operator’s stock worth $378,851,000 after acquiring an additional 38,919 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Restaurant Brands International by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 5,216,985 shares of the restaurant operator’s stock valued at $365,279,000 after purchasing an additional 295,935 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.
About Restaurant Brands International
Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company that owns and operates a portfolio of well-known restaurant brands. Its principal brands are Burger King, Tim Hortons, Popeyes and Firehouse Subs, which serve products including hamburgers, chicken, sandwiches, coffee, baked goods and other prepared foods.
RBI primarily operates through a franchise-based business model, supporting independently owned and operated restaurants through brand management, restaurant development, marketing and supply-chain programs.
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