Toronto Dominion Bank lifted its holdings in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 78.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,220,953 shares of the restaurant operator’s stock after acquiring an additional 537,277 shares during the quarter. Toronto Dominion Bank’s holdings in Restaurant Brands International were worth $66,461,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE increased its holdings in Restaurant Brands International by 1.9% during the 2nd quarter. US Bancorp DE now owns 13,182 shares of the restaurant operator’s stock worth $720,000 after acquiring an additional 250 shares during the period. Mount Yale Investment Advisors LLC raised its position in shares of Restaurant Brands International by 2.8% in the second quarter. Mount Yale Investment Advisors LLC now owns 9,543 shares of the restaurant operator’s stock worth $521,000 after buying an additional 257 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Restaurant Brands International by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 15,312 shares of the restaurant operator’s stock worth $613,000 after buying an additional 259 shares in the last quarter. Aviva PLC grew its position in Restaurant Brands International by 0.3% during the first quarter. Aviva PLC now owns 98,579 shares of the restaurant operator’s stock worth $3,944,000 after buying an additional 320 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Restaurant Brands International by 7.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,207 shares of the restaurant operator’s stock valued at $208,000 after acquiring an additional 339 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.
In related news, Director Carlos Alberto Sicupira sold 29,514 shares of Restaurant Brands International stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $1,653,374.28. Following the sale, the director now directly owns 167,574 shares in the company, valued at $9,387,495.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.69% of the company’s stock.
A number of research firms have commented on QSR. Deutsche Bank boosted their price target on shares of Restaurant Brands International from $57.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. They noted that the move was a valuation call. Credit Suisse Group reissued a “buy” rating and set a $59.00 price target on shares of Restaurant Brands International in a research note on Tuesday, May 19th. Morgan Stanley upped their price objective on shares of Restaurant Brands International from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Oppenheimer reiterated a “buy” rating and issued a $62.00 target price on shares of Restaurant Brands International in a research report on Thursday, May 28th. Finally, Piper Sandler upped their price target on shares of Restaurant Brands International from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, August 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $62.20.
NYSE QSR traded down $1.87 during trading on Wednesday, hitting $56.34. The company had a trading volume of 78,179 shares, compared to its average volume of 3,053,767. The company’s fifty day moving average is $55.44 and its 200-day moving average is $51.75. Restaurant Brands International Inc has a one year low of $25.08 and a one year high of $74.61. The company has a current ratio of 1.73, a quick ratio of 1.66 and a debt-to-equity ratio of 3.54. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Restaurant Brands International had a net margin of 11.82% and a return on equity of 26.85%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. Restaurant Brands International’s quarterly revenue was down 25.1% on a year-over-year basis. As a group, equities analysts anticipate that Restaurant Brands International Inc will post 2.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, September 17th. Restaurant Brands International’s dividend payout ratio is currently 76.47%.
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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