Restaurant Brands International Inc. (QSR) Shares Bought by Point72 Asset Management L.P.
Point72 Asset Management L.P. raised its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 3,083.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,257,541 shares of the restaurant operator’s stock after buying an additional 1,218,041 shares during the period. Point72 Asset Management L.P. owned about 0.53% of Restaurant Brands International worth $80,332,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in QSR. US Bancorp DE increased its stake in shares of Restaurant Brands International by 8.4% during the second quarter. US Bancorp DE now owns 9,007 shares of the restaurant operator’s stock worth $563,000 after purchasing an additional 698 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Restaurant Brands International by 42.9% during the second quarter. Daiwa Securities Group Inc. now owns 10,000 shares of the restaurant operator’s stock worth $625,000 after purchasing an additional 3,000 shares during the period. Cigna Investments Inc. New bought a new position in shares of Restaurant Brands International during the second quarter worth approximately $211,000. Canada Pension Plan Investment Board increased its stake in shares of Restaurant Brands International by 1,364.1% during the second quarter. Canada Pension Plan Investment Board now owns 301,600 shares of the restaurant operator’s stock worth $18,843,000 after purchasing an additional 281,000 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Restaurant Brands International by 13.3% during the second quarter. First Trust Advisors LP now owns 355,489 shares of the restaurant operator’s stock worth $22,232,000 after purchasing an additional 41,861 shares during the period. Hedge funds and other institutional investors own 78.39% of the company’s stock.
A number of equities analysts have recently weighed in on QSR shares. Bank of America reiterated a “neutral” rating and set a $62.00 target price on shares of Restaurant Brands International in a research note on Monday, August 14th. BidaskClub upgraded Restaurant Brands International from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. UBS set a $68.00 target price on Restaurant Brands International and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, August 29th. Finally, Credit Suisse Group raised Restaurant Brands International from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $60.00 to $74.00 in a research report on Thursday, September 7th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $69.88.
In other Restaurant Brands International news, EVP Jose E. Cil sold 60,832 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $64.01, for a total value of $3,893,856.32. Following the sale, the executive vice president now owns 73,618 shares of the company’s stock, valued at approximately $4,712,288.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Restaurant Brands Holdings 3G sold 4,050,594 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $64.70, for a total value of $262,073,431.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,249,909 shares of company stock worth $339,590,312. Company insiders own 3.05% of the company’s stock.
Shares of Restaurant Brands International Inc. (NYSE:QSR) traded down $0.37 during trading hours on Monday, reaching $60.71. The company had a trading volume of 1,088,300 shares, compared to its average volume of 1,106,903. The firm has a market capitalization of $14,420.60, a P/E ratio of 32.12, a P/E/G ratio of 1.80 and a beta of 1.69. Restaurant Brands International Inc. has a 1-year low of $46.88 and a 1-year high of $68.89. The company has a quick ratio of 3.38, a current ratio of 3.45 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.09. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Restaurant Brands International had a return on equity of 23.53% and a net margin of 12.40%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. sell-side analysts predict that Restaurant Brands International Inc. will post 1.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders 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 1.38%. The ex-dividend date is Thursday, December 14th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.20. Restaurant Brands International’s dividend payout ratio (DPR) is currently 55.17%.
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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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