Envestnet Asset Management Inc. lifted its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) by 47.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 403,990 shares of the restaurant operator’s stock after buying an additional 129,713 shares during the period. Envestnet Asset Management Inc.’s holdings in Restaurant Brands International were worth $26,914,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in QSR. Missouri Trust & Investment Co acquired a new stake in shares of Restaurant Brands International during the second quarter worth about $28,000. Janiczek Wealth Management LLC acquired a new stake in Restaurant Brands International in the third quarter valued at about $36,000. BOKF NA acquired a new stake in Restaurant Brands International in the second quarter valued at about $39,000. Parallel Advisors LLC lifted its position in Restaurant Brands International by 41.0% in the second quarter. Parallel Advisors LLC now owns 554 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 161 shares during the period. Finally, Larson Financial Group LLC lifted its position in Restaurant Brands International by 73,500.0% in the third quarter. Larson Financial Group LLC now owns 736 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 735 shares during the period.
Restaurant Brands International Stock Performance
NYSE:QSR opened at $76.13 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 2.82. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.28 and a beta of 0.92. The firm’s fifty day simple moving average is $77.07 and its 200 day simple moving average is $71.53. Restaurant Brands International Inc. has a twelve month low of $59.99 and a twelve month high of $79.94.
Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last posted its earnings results on Tuesday, February 13th. The restaurant operator reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. Restaurant Brands International had a net margin of 16.95% and a return on equity of 32.52%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Restaurant Brands International Inc. will post 3.38 earnings per share for the current fiscal year.
Restaurant Brands International Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $2.32 dividend on an annualized basis and a yield of 3.05%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.55. Restaurant Brands International’s payout ratio is currently 58.36%.
Analysts Set New Price Targets
A number of brokerages recently commented on QSR. Sanford C. Bernstein upgraded shares of Restaurant Brands International from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, November 30th. JPMorgan Chase & Co. increased their target price on shares of Restaurant Brands International from $78.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Scotiabank dropped their target price on shares of Restaurant Brands International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Stifel Nicolaus increased their target price on shares of Restaurant Brands International from $72.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $75.00 target price on shares of Restaurant Brands International in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.33.
Check Out Our Latest Research Report on QSR
Insiders Place Their Bets
In other Restaurant Brands International news, CEO Joshua Kobza sold 2,602 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $73.68, for a total value of $191,715.36. Following the transaction, the chief executive officer now owns 388,266 shares in the company, valued at approximately $28,607,438.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Thomas Benjamin Curtis sold 2,682 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $76.55, for a total transaction of $205,307.10. Following the completion of the sale, the insider now owns 23,322 shares of the company’s stock, valued at approximately $1,785,299.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joshua Kobza sold 2,602 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $73.68, for a total transaction of $191,715.36. Following the sale, the chief executive officer now directly owns 388,266 shares of the company’s stock, valued at approximately $28,607,438.88. The disclosure for this sale can be found here. Insiders have sold 102,366 shares of company stock worth $7,800,547 in the last quarter. 1.25% of the stock is owned by corporate insiders.
About Restaurant Brands International
Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.
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