Pendal Group Ltd boosted its holdings in Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 18.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 69,893 shares of the restaurant operator’s stock after buying an additional 10,800 shares during the period. Pendal Group Ltd’s holdings in Restaurant Brands International were worth $4,143,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. HL Financial Services LLC increased its stake in Restaurant Brands International by 6.9% in the 2nd quarter. HL Financial Services LLC now owns 12,475 shares of the restaurant operator’s stock worth $752,000 after buying an additional 800 shares in the last quarter. Comerica Bank increased its stake in Restaurant Brands International by 8.4% in the 3rd quarter. Comerica Bank now owns 14,425 shares of the restaurant operator’s stock worth $819,000 after buying an additional 1,117 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Restaurant Brands International by 56.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,722 shares of the restaurant operator’s stock worth $225,000 after buying an additional 1,337 shares in the last quarter. Lenox Wealth Advisors LLC purchased a new stake in Restaurant Brands International in the 2nd quarter worth $103,000. Finally, Keybank National Association OH increased its stake in Restaurant Brands International by 19.6% in the 2nd quarter. Keybank National Association OH now owns 12,579 shares of the restaurant operator’s stock worth $759,000 after buying an additional 2,064 shares in the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.
A number of equities research analysts have issued reports on QSR shares. ValuEngine upgraded Restaurant Brands International from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Cowen upgraded Restaurant Brands International from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $64.00 to $74.00 in a research note on Tuesday, July 17th. Citigroup increased their price target on Restaurant Brands International from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Scotiabank reiterated a “buy” rating and issued a $70.00 price target on shares of Restaurant Brands International in a research note on Thursday, August 2nd. Finally, UBS Group set a $74.00 price target on Restaurant Brands International and gave the stock a “buy” rating in a research note on Thursday, October 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $69.80.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Wednesday, October 24th. The restaurant operator reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Restaurant Brands International had a net margin of 12.76% and a return on equity of 28.42%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. Analysts anticipate that Restaurant Brands International Inc will post 2.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Monday, December 17th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, December 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.17%. Restaurant Brands International’s payout ratio is 85.71%.
Restaurant Brands International 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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