17,700 Shares in Restaurant Brands International Inc (QSR) Acquired by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL purchased a new stake in Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,700 shares of the restaurant operator’s stock, valued at approximately $1,067,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QSR. BlackRock Inc. lifted its position in shares of Restaurant Brands International by 1,457.0% during the 4th quarter. BlackRock Inc. now owns 13,686 shares of the restaurant operator’s stock valued at $841,000 after acquiring an additional 12,807 shares during the period. Guggenheim Capital LLC bought a new stake in shares of Restaurant Brands International during the 4th quarter valued at $287,000. HL Financial Services LLC bought a new stake in shares of Restaurant Brands International during the 1st quarter valued at $665,000. Tower Bridge Advisors bought a new stake in shares of Restaurant Brands International during the 1st quarter valued at $2,580,000. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of Restaurant Brands International by 16.0% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 13,774 shares of the restaurant operator’s stock valued at $784,000 after acquiring an additional 1,901 shares during the period. Institutional investors and hedge funds own 74.89% of the company’s stock.
In other news, Director Golnar Khosrowshahi bought 5,670 shares of the stock in a transaction on Monday, June 18th. The stock was acquired at an average price of $60.34 per share, with a total value of $342,127.80. Following the acquisition, the director now directly owns 5,670 shares in the company, valued at $342,127.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.78% of the stock is owned by corporate insiders.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Wednesday, August 1st. The restaurant operator reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Restaurant Brands International had a return on equity of 28.10% and a net margin of 13.68%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $0.51 EPS. Restaurant Brands International’s revenue for the quarter was up 18.6% on a year-over-year basis. research analysts expect that Restaurant Brands International Inc will post 2.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be issued a $0.45 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.92%. Restaurant Brands International’s payout ratio is presently 85.71%.
A number of analysts have recently weighed in on the company. Wells Fargo & Co reiterated a “market perform” rating and set a $70.00 target price (up from $61.00) on shares of Restaurant Brands International in a research report on Wednesday, July 25th. Mizuho restated a “buy” rating and set a $67.00 price objective on shares of Restaurant Brands International in a research report on Friday, July 20th. Scotiabank restated a “buy” rating and set a $70.00 price objective on shares of Restaurant Brands International in a research report on Thursday, August 2nd. Morgan Stanley upped their price objective on Restaurant Brands International from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Finally, Cowen upgraded Restaurant Brands International from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $64.00 to $74.00 in a research report on Tuesday, July 17th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.27.
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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