Hillsdale Investment Management Inc. reduced its stake in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 67.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,600 shares of the restaurant operator’s stock after selling 230,300 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Restaurant Brands International were worth $7,892,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in QSR. Coastal Capital Group Inc. purchased a new stake in shares of Restaurant Brands International in the second quarter valued at approximately $28,000. Coastal Investment Advisors Inc. purchased a new stake in shares of Restaurant Brands International in the second quarter valued at approximately $31,000. Lindbrook Capital LLC increased its position in shares of Restaurant Brands International by 327.2% in the first quarter. Lindbrook Capital LLC now owns 786 shares of the restaurant operator’s stock valued at $51,000 after buying an additional 602 shares in the last quarter. Howe & Rusling Inc. increased its position in shares of Restaurant Brands International by 357.4% in the first quarter. Howe & Rusling Inc. now owns 988 shares of the restaurant operator’s stock valued at $64,000 after buying an additional 772 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Restaurant Brands International by 40.3% in the second quarter. Signaturefd LLC now owns 1,097 shares of the restaurant operator’s stock valued at $76,000 after buying an additional 315 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.
A number of analysts have recently commented on the company. Oppenheimer boosted their price objective on Restaurant Brands International from $75.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. KeyCorp boosted their price objective on Restaurant Brands International from $72.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Stephens boosted their price objective on Restaurant Brands International from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets boosted their price objective on Restaurant Brands International from $76.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, UBS Group restated a “buy” rating and issued a $79.00 price objective (up from $74.00) on shares of Restaurant Brands International in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Restaurant Brands International currently has a consensus rating of “Buy” and a consensus price target of $77.69.
Shares of QSR traded up $0.94 during trading hours on Friday, hitting $74.52. 1,987,400 shares of the stock were exchanged, compared to its average volume of 2,458,385. The company has a debt-to-equity ratio of 3.30, a quick ratio of 1.14 and a current ratio of 1.20. Restaurant Brands International Inc has a 12-month low of $50.20 and a 12-month high of $78.26. The company has a market cap of $18.92 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.94 and a beta of 1.26. The stock’s 50-day moving average price is $73.18 and its two-hundred day moving average price is $67.48.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Friday, August 2nd. The restaurant operator reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.04. Restaurant Brands International had a return on equity of 30.53% and a net margin of 10.57%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts expect that Restaurant Brands International Inc will post 2.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Tuesday, September 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, September 16th. Restaurant Brands International’s payout ratio is 76.05%.
In related news, CEO Jose E. Cil sold 127,557 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $68.28, for a total transaction of $8,709,591.96. Following the completion of the sale, the chief executive officer now directly owns 558,889 shares in the company, valued at $38,160,940.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.13% of the stock is currently owned by insiders.
About Restaurant Brands International
Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.
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