Alkeon Capital Management LLC Grows Stake in Restaurant Brands International Inc. (QSR)
Alkeon Capital Management LLC grew its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 43.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 700,000 shares of the restaurant operator’s stock after buying an additional 212,500 shares during the period. Alkeon Capital Management LLC owned 0.29% of Restaurant Brands International worth $44,716,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QSR. FMR LLC grew its stake in shares of Restaurant Brands International by 10.9% during the second quarter. FMR LLC now owns 15,492,590 shares of the restaurant operator’s stock worth $969,362,000 after purchasing an additional 1,528,447 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Restaurant Brands International by 3,083.6% during the third quarter. Point72 Asset Management L.P. now owns 1,257,541 shares of the restaurant operator’s stock worth $80,332,000 after purchasing an additional 1,218,041 shares during the period. Fiera Capital Corp grew its stake in shares of Restaurant Brands International by 481.6% during the second quarter. Fiera Capital Corp now owns 1,338,343 shares of the restaurant operator’s stock worth $83,591,000 after purchasing an additional 1,108,231 shares during the period. Mik Capital LLC acquired a new stake in shares of Restaurant Brands International during the second quarter worth $52,536,000. Finally, Argent Capital Management LLC acquired a new stake in shares of Restaurant Brands International during the third quarter worth $33,235,000. 78.39% of the stock is owned by institutional investors.
Shares of Restaurant Brands International Inc. (QSR) traded down $0.26 during trading on Tuesday, hitting $60.45. The stock had a trading volume of 1,355,900 shares, compared to its average volume of 1,107,949. The company has a market capitalization of $14,420.60, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.80 and a beta of 1.69. Restaurant Brands International Inc. has a 12 month low of $46.88 and a 12 month high of $68.89. The company has a current ratio of 3.45, a quick ratio of 3.38 and a debt-to-equity ratio of 2.70.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Restaurant Brands International had a return on equity of 23.53% and a net margin of 12.40%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share. analysts expect that Restaurant Brands International Inc. will post 1.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 14th. Restaurant Brands International’s payout ratio is 55.17%.
A number of brokerages recently commented on QSR. Oppenheimer lifted their price objective on Restaurant Brands International from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Royal Bank of Canada lifted their price objective on Restaurant Brands International from $69.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, October 18th. UBS set a $74.00 target price on Restaurant Brands International and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, OTR Global upgraded Restaurant Brands International to a “positive” rating in a report on Monday, October 16th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Restaurant Brands International currently has a consensus rating of “Buy” and a consensus target price of $70.18.
In related news, Director Ali Hedayat bought 5,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were acquired at an average price of $64.58 per share, with a total value of $322,900.00. Following the completion of the transaction, the director now owns 30,966 shares in the company, valued at $1,999,784.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Caira sold 49,804 shares of Restaurant Brands International stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $65.62, for a total value of $3,268,138.48. Following the completion of the sale, the director now directly owns 124,643 shares in the company, valued at approximately $8,179,073.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,249,909 shares of company stock worth $339,590,312. Corporate insiders own 3.05% of the company’s stock.
Restaurant Brands International Company Profile
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.
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