534,646 Restaurant Brands International Inc. $QSR Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. cut its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,889,875 shares of the restaurant operator’s stock after selling 534,646 shares during the period. Restaurant Brands International comprises about 2.2% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 14th largest position. Beutel Goodman & Co Ltd. owned approximately 1.12% of Restaurant Brands International worth $277,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QSR. Fulcrum Asset Management LLP acquired a new stake in Restaurant Brands International during the 3rd quarter worth $635,000. Ethic Inc. grew its stake in Restaurant Brands International by 102.0% in the third quarter. Ethic Inc. now owns 7,285 shares of the restaurant operator’s stock valued at $518,000 after acquiring an additional 3,678 shares during the period. Kestra Advisory Services LLC grew its stake in Restaurant Brands International by 24.9% in the third quarter. Kestra Advisory Services LLC now owns 27,504 shares of the restaurant operator’s stock valued at $1,955,000 after acquiring an additional 5,485 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Restaurant Brands International by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 114,454 shares of the restaurant operator’s stock worth $8,135,000 after acquiring an additional 2,958 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Restaurant Brands International by 2.9% in the third quarter. Kestra Private Wealth Services LLC now owns 8,960 shares of the restaurant operator’s stock worth $637,000 after acquiring an additional 255 shares in the last quarter. 82.29% of the stock is owned by institutional investors.

Restaurant Brands International Price Performance

Shares of NYSE QSR opened at $77.51 on Tuesday. The company has a fifty day moving average price of $74.25 and a 200 day moving average price of $74.17. The firm has a market cap of $27.02 billion, a PE ratio of 19.64, a PEG ratio of 2.31 and a beta of 0.57. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 2.43. Restaurant Brands International Inc. has a 1-year low of $65.43 and a 1-year high of $81.96.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Thursday, October 29th. The restaurant operator reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.55 billion. Restaurant Brands International had a return on equity of 33.50% and a net margin of 15.35%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Research analysts predict that Restaurant Brands International Inc. will post 4.05 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.4%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 60.47%.

Insider Transactions at Restaurant Brands International

In related news, insider Axel Schwan sold 57,574 shares of Restaurant Brands International stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $81.14, for a total value of $4,671,554.36. Following the sale, the insider owned 209,908 shares of the company’s stock, valued at approximately $17,031,935.12. This trade represents a 21.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada dropped their price target on Restaurant Brands International from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Monday, October 19th. Scotiabank decreased their price objective on Restaurant Brands International from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. TD Cowen reissued a “hold” rating and set a $78.00 target price on shares of Restaurant Brands International in a research note on Thursday, October 29th. BMO Capital Markets reissued an “outperform” rating and set a $91.00 target price on shares of Restaurant Brands International in a research note on Friday, October 30th. Finally, Piper Sandler dropped their target price on shares of Restaurant Brands International from $85.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.92.

Restaurant Brands International Company Profile

Restaurant Brands International Inc is a global quick-service restaurant company that owns and operates the Burger King, Tim Hortons, Popeyes and Firehouse Subs brands. Its restaurants serve a range of products, including burgers, coffee and baked goods, fried chicken, and sandwiches.

The company primarily grows its brands through a network of franchised restaurants, alongside some company-operated locations. Its brands serve customers in numerous countries and territories around the world.

Restaurant Brands International was formed in 2014 through the combination of Burger King and Tim Hortons.