Keybank National Association OH decreased its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,211 shares of the restaurant operator’s stock after selling 467 shares during the quarter. Keybank National Association OH’s holdings in Restaurant Brands International were worth $576,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Restaurant Brands International by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 8,364,353 shares of the restaurant operator’s stock valued at $466,229,000 after purchasing an additional 321,262 shares in the last quarter. OppenheimerFunds Inc. increased its stake in Restaurant Brands International by 17.2% during the 1st quarter. OppenheimerFunds Inc. now owns 477,240 shares of the restaurant operator’s stock valued at $26,601,000 after purchasing an additional 69,988 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Restaurant Brands International by 15.4% during the 1st quarter. Russell Investments Group Ltd. now owns 138,985 shares of the restaurant operator’s stock valued at $7,722,000 after purchasing an additional 18,548 shares in the last quarter. Creative Planning increased its stake in Restaurant Brands International by 1,949.5% during the 2nd quarter. Creative Planning now owns 43,059 shares of the restaurant operator’s stock valued at $2,693,000 after purchasing an additional 40,958 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in Restaurant Brands International during the 1st quarter valued at approximately $1,367,000. Institutional investors and hedge funds own 76.68% of the company’s stock.
In other Restaurant Brands International news, EVP Jose E. Cil sold 142,700 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $59.05, for a total value of $8,426,435.00. Following the transaction, the executive vice president now directly owns 21,684 shares of the company’s stock, valued at approximately $1,280,440.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ali Hedayat acquired 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $61.32 per share, for a total transaction of $306,600.00. Following the completion of the purchase, the director now directly owns 25,966 shares in the company, valued at approximately $1,592,235.12. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.
A number of research analysts have issued reports on the stock. UBS AG set a $68.00 price target on shares of Restaurant Brands International and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research lowered shares of Restaurant Brands International from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Instinet assumed coverage on shares of Restaurant Brands International in a research note on Wednesday, July 12th. They issued a “buy” rating and a $73.00 price objective on the stock. Nomura assumed coverage on shares of Restaurant Brands International in a research note on Wednesday, July 12th. They issued a “buy” rating and a $73.00 price objective on the stock. Finally, BidaskClub upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Restaurant Brands International currently has an average rating of “Buy” and a consensus price target of $65.06.
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Shares of Restaurant Brands International Inc. (NYSE QSR) opened at 63.10 on Monday. The company’s 50-day moving average is $60.91 and its 200-day moving average is $58.83. The stock has a market capitalization of $14.91 billion, a P/E ratio of 44.16 and a beta of 1.77. Restaurant Brands International Inc. has a one year low of $42.35 and a one year high of $64.35.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. Restaurant Brands International’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, equities research analysts anticipate that Restaurant Brands International Inc. will post $1.89 earnings per share for the current year.
Restaurant Brands International declared that its board has authorized a share buyback program on Wednesday, August 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be paid a $0.20 dividend. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 14th. Restaurant Brands International’s payout ratio is currently 52.78%.
Restaurant Brands International Profile
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.
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