Global X Management Co LLC Grows Holdings in Restaurant Brands International Inc (QSR)
Global X Management Co LLC boosted its position in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 23.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,887 shares of the restaurant operator’s stock after purchasing an additional 3,049 shares during the period. Global X Management Co LLC’s holdings in Restaurant Brands International were worth $958,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in QSR. Meritage Group LP bought a new position in Restaurant Brands International during the 2nd quarter worth about $173,136,000. Hound Partners LLC increased its holdings in Restaurant Brands International by 71.8% during the 1st quarter. Hound Partners LLC now owns 5,036,214 shares of the restaurant operator’s stock worth $286,661,000 after purchasing an additional 2,105,381 shares in the last quarter. Burgundy Asset Management Ltd. bought a new position in Restaurant Brands International during the 2nd quarter worth about $100,942,000. Millennium Management LLC increased its holdings in Restaurant Brands International by 39.4% during the 1st quarter. Millennium Management LLC now owns 4,857,056 shares of the restaurant operator’s stock worth $276,464,000 after purchasing an additional 1,373,701 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Restaurant Brands International by 3,711.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,379,907 shares of the restaurant operator’s stock valued at $83,208,000 after acquiring an additional 1,343,707 shares in the last quarter. Hedge funds and other institutional investors own 79.32% of the company’s stock.
Restaurant Brands International stock opened at $59.20 on Thursday. Restaurant Brands International Inc has a 52 week low of $53.09 and a 52 week high of $68.89. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.24 and a quick ratio of 1.17. The stock has a market cap of $14.75 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, September 6th. Restaurant Brands International’s payout ratio is currently 85.71%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, June 26th. ValuEngine upgraded Restaurant Brands International from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Citigroup raised their price objective on Restaurant Brands International from $67.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, June 21st. UBS Group set a $74.00 price objective on Restaurant Brands International and gave the company a “buy” rating in a report on Thursday, September 20th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Restaurant Brands International in a report on Wednesday, July 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Restaurant Brands International has a consensus rating of “Buy” and a consensus target price 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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