Cannell & Spears LLC Lowers Stake in Restaurant Brands International Inc. $QSR

Cannell & Spears LLC cut its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 14.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 300,993 shares of the restaurant operator’s stock after selling 50,561 shares during the quarter. Cannell & Spears LLC’s holdings in Restaurant Brands International were worth $19,306,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Restaurant Brands International in the third quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Restaurant Brands International during the second quarter worth about $35,000. Elevation Point Wealth Partners LLC acquired a new position in Restaurant Brands International in the 2nd quarter valued at about $36,000. Exchange Traded Concepts LLC acquired a new position in Restaurant Brands International in the 3rd quarter valued at about $48,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Restaurant Brands International by 41.0% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,032 shares of the restaurant operator’s stock valued at $66,000 after acquiring an additional 300 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Restaurant Brands International Price Performance

Shares of QSR opened at $72.65 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 2.62. The stock’s 50 day moving average is $69.29 and its two-hundred day moving average is $68.10. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $74.42. The firm has a market capitalization of $25.17 billion, a PE ratio of 30.78, a P/E/G ratio of 2.06 and a beta of 0.56.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.41 billion. Restaurant Brands International had a return on equity of 32.51% and a net margin of 8.23%.The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Research analysts anticipate that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, March 19th will be issued a dividend of $0.65 per share. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, March 19th. Restaurant Brands International’s dividend payout ratio is currently 105.08%.

Insider Transactions at Restaurant Brands International

In other news, insider Duncan Fulton sold 10,308 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $695,893.08. Following the transaction, the insider directly owned 49,677 shares of the company’s stock, valued at $3,353,694.27. This represents a 17.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jill Granat sold 11,525 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $778,052.75. Following the completion of the transaction, the insider owned 476,126 shares of the company’s stock, valued at $32,143,266.26. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 186,401 shares of company stock valued at $12,857,069 in the last three months. Insiders own 1.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on QSR. Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Restaurant Brands International in a research report on Tuesday, November 25th. Morgan Stanley boosted their target price on Restaurant Brands International from $77.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. TD Cowen cut their price target on Restaurant Brands International from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Truist Financial increased their price target on Restaurant Brands International from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Scotiabank lowered their price objective on shares of Restaurant Brands International from $74.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, February 13th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Restaurant Brands International has an average rating of “Moderate Buy” and an average price target of $78.95.

Restaurant Brands International Company Profile

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.