Principal Financial Group Inc. raised its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,445,609 shares of the restaurant operator’s stock after buying an additional 81,256 shares during the period. Restaurant Brands International accounts for about 0.5% of Principal Financial Group Inc.’s portfolio, making the stock its 26th largest position. Principal Financial Group Inc. owned about 3.58% of Restaurant Brands International worth $528,188,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in QSR. OppenheimerFunds Inc. raised its position in shares of Restaurant Brands International by 17.2% in the first quarter. OppenheimerFunds Inc. now owns 477,240 shares of the restaurant operator’s stock valued at $26,601,000 after buying an additional 69,988 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Restaurant Brands International by 15.4% in the first quarter. Russell Investments Group Ltd. now owns 138,985 shares of the restaurant operator’s stock valued at $7,722,000 after buying an additional 18,548 shares in the last quarter. Creative Planning raised its position in shares of Restaurant Brands International by 1,949.5% in the second quarter. Creative Planning now owns 43,059 shares of the restaurant operator’s stock valued at $2,693,000 after buying an additional 40,958 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of Restaurant Brands International during the first quarter valued at approximately $1,367,000. Finally, Credit Suisse AG raised its position in shares of Restaurant Brands International by 4.2% in the first quarter. Credit Suisse AG now owns 448,706 shares of the restaurant operator’s stock valued at $25,011,000 after buying an additional 18,038 shares in the last quarter. 76.68% of the stock is owned by institutional investors.

Restaurant Brands International Inc. (NYSE:QSR) opened at 60.795 on Wednesday. Restaurant Brands International Inc. has a one year low of $42.35 and a one year high of $62.94. The company has a market capitalization of $14.36 billion, a P/E ratio of 42.544 and a beta of 1.77. The stock’s 50 day moving average price is $60.94 and its 200 day moving average price is $58.28.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. Restaurant Brands International’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. Equities analysts anticipate that Restaurant Brands International Inc. will post $1.89 EPS for the current fiscal year.

Restaurant Brands International announced that its Board of Directors has initiated a share buyback program on Wednesday, August 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 14th. Restaurant Brands International’s payout ratio is 52.78%.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.watchlistnews.com/restaurant-brands-international-inc-qsr-shares-bought-by-principal-financial-group-inc/1531959.html.

Several equities analysts have commented on QSR shares. Instinet started coverage on Restaurant Brands International in a research report on Wednesday, July 12th. They set a “buy” rating and a $73.00 price objective for the company. Nomura started coverage on Restaurant Brands International in a research report on Wednesday, July 12th. They set a “buy” rating and a $73.00 price objective for the company. BidaskClub raised Restaurant Brands International from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. UBS AG reissued a “buy” rating and set a $68.00 price objective (up previously from $64.00) on shares of Restaurant Brands International in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised Restaurant Brands International from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $63.75.

In other Restaurant Brands International news, EVP Jose E. Cil sold 105,540 shares of Restaurant Brands International stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $59.86, for a total transaction of $6,317,624.40. Following the completion of the sale, the executive vice president now directly owns 58,644 shares of the company’s stock, valued at approximately $3,510,429.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ali Hedayat purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were acquired at an average cost of $61.32 per share, with a total value of $306,600.00. Following the completion of the acquisition, the director now directly owns 25,966 shares in the company, valued at $1,592,235.12. The disclosure for this purchase can be found here. Insiders have sold a total of 250,000 shares of company stock valued at $14,849,219 over the last ninety days. 4.20% of the stock is owned by company insiders.

About Restaurant Brands International

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.

Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

Receive News & Ratings for Restaurant Brands International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Restaurant Brands International Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.