Tremblant Capital Group Purchases 110,055 Shares of Restaurant Brands International Inc (NYSE:QSR)

Tremblant Capital Group increased its position in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 738,738 shares of the restaurant operator’s stock after purchasing an additional 110,055 shares during the period. Restaurant Brands International accounts for 3.1% of Tremblant Capital Group’s portfolio, making the stock its 14th largest holding. Tremblant Capital Group owned 0.29% of Restaurant Brands International worth $51,372,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. FIL Ltd raised its position in shares of Restaurant Brands International by 24.2% during the 1st quarter. FIL Ltd now owns 8,910,639 shares of the restaurant operator’s stock valued at $579,708,000 after purchasing an additional 1,736,671 shares during the period. Bank of Montreal Can raised its position in shares of Restaurant Brands International by 12.3% during the 2nd quarter. Bank of Montreal Can now owns 6,734,820 shares of the restaurant operator’s stock valued at $468,341,000 after purchasing an additional 736,433 shares during the period. TD Asset Management Inc. raised its position in shares of Restaurant Brands International by 2.0% during the 2nd quarter. TD Asset Management Inc. now owns 4,306,125 shares of the restaurant operator’s stock valued at $300,083,000 after purchasing an additional 85,220 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Restaurant Brands International by 56.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,635,855 shares of the restaurant operator’s stock valued at $183,698,000 after purchasing an additional 947,002 shares during the period. Finally, CIBC World Markets Inc. raised its position in shares of Restaurant Brands International by 6.3% during the 1st quarter. CIBC World Markets Inc. now owns 2,246,196 shares of the restaurant operator’s stock valued at $146,250,000 after purchasing an additional 133,475 shares during the period. Hedge funds and other institutional investors own 77.68% of the company’s stock.

In other news, CEO Jose E. Cil sold 122,680 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $77.74, for a total value of $9,537,143.20. Following the sale, the chief executive officer now directly owns 647,068 shares in the company, valued at approximately $50,303,066.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul J. Fribourg sold 488,024 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $77.20, for a total transaction of $37,675,452.80. Following the completion of the sale, the director now owns 58,005 shares in the company, valued at $4,477,986. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 840,294 shares of company stock worth $64,840,016. Insiders own 4.13% of the company’s stock.

Shares of Restaurant Brands International stock traded down $1.14 during trading hours on Monday, reaching $71.47. The company’s stock had a trading volume of 120,894 shares, compared to its average volume of 3,001,449. The firm has a 50 day moving average price of $75.58 and a 200-day moving average price of $69.10. Restaurant Brands International Inc has a one year low of $50.20 and a one year high of $79.46. The company has a debt-to-equity ratio of 3.30, a current ratio of 1.20 and a quick ratio of 1.14. The stock has a market cap of $18.78 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.88 and a beta of 1.23.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its earnings results on Friday, August 2nd. The restaurant operator reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Restaurant Brands International had a net margin of 10.57% and a return on equity of 30.53%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Restaurant Brands International Inc will post 2.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Tuesday, September 17th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.80%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 76.05%.

QSR has been the topic of several recent analyst reports. Piper Jaffray Companies restated a “market perform” rating and set a $90.00 price objective (up from $80.00) on shares of Restaurant Brands International in a research report on Thursday, September 5th. KeyCorp lifted their price target on shares of Restaurant Brands International from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, August 5th. SunTrust Banks lifted their price target on shares of Restaurant Brands International to $86.00 and gave the company a “buy” rating in a report on Monday, August 5th. Cowen lifted their price target on shares of Restaurant Brands International from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, UBS Group reiterated a “buy” rating and issued a $79.00 price target (up from $74.00) on shares of Restaurant Brands International in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $78.11.

Restaurant Brands International Company Profile

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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Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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