Greystone Financial Group LLC Cuts Position in Restaurant Brands International Inc. (NYSE:QSR)

Greystone Financial Group LLC lessened its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,028 shares of the restaurant operator’s stock after selling 8,454 shares during the quarter. Restaurant Brands International comprises 1.7% of Greystone Financial Group LLC’s portfolio, making the stock its 22nd biggest holding. Greystone Financial Group LLC’s holdings in Restaurant Brands International were worth $7,503,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QSR. Aviva PLC boosted its holdings in shares of Restaurant Brands International by 1.3% in the 3rd quarter. Aviva PLC now owns 11,726 shares of the restaurant operator’s stock worth $784,000 after purchasing an additional 149 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Restaurant Brands International by 24.1% in the 4th quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock worth $62,000 after purchasing an additional 153 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Restaurant Brands International by 2.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,348 shares of the restaurant operator’s stock valued at $423,000 after acquiring an additional 168 shares during the period. Rise Advisors LLC boosted its holdings in Restaurant Brands International by 88.3% during the 4th quarter. Rise Advisors LLC now owns 371 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 174 shares during the period. Finally, Waldron Private Wealth LLC boosted its holdings in Restaurant Brands International by 4.5% during the 4th quarter. Waldron Private Wealth LLC now owns 4,647 shares of the restaurant operator’s stock valued at $365,000 after acquiring an additional 199 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Stock Down 1.7 %

NYSE:QSR traded down $1.14 during mid-day trading on Monday, hitting $67.64. 1,221,510 shares of the company’s stock traded hands, compared to its average volume of 1,591,024. The company has a fifty day moving average of $71.78 and a 200 day moving average of $75.08. Restaurant Brands International Inc. has a twelve month low of $61.77 and a twelve month high of $83.29. The company has a market capitalization of $21.40 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.10 and a beta of 0.92. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.08.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Restaurant Brands International had a return on equity of 31.12% and a net margin of 17.17%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that Restaurant Brands International Inc. will post 3.37 EPS for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, June 21st. Restaurant Brands International’s dividend payout ratio is currently 59.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler dropped their price objective on Restaurant Brands International from $84.00 to $82.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. KeyCorp boosted their price objective on Restaurant Brands International from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Guggenheim boosted their price objective on Restaurant Brands International from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price objective on Restaurant Brands International from $78.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Loop Capital lifted their target price on Restaurant Brands International from $86.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.18.

Insider Activity at Restaurant Brands International

In other news, Director Ali Hedayat sold 8,537 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $74.75, for a total value of $638,140.75. Following the transaction, the director now directly owns 22,881 shares of the company’s stock, valued at $1,710,354.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ali Hedayat sold 8,537 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $74.75, for a total value of $638,140.75. Following the transaction, the director now directly owns 22,881 shares of the company’s stock, valued at $1,710,354.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joshua Kobza sold 246,196 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.17, for a total value of $18,506,553.32. Following the completion of the transaction, the chief executive officer now directly owns 595,764 shares in the company, valued at $44,783,579.88. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

About Restaurant Brands International

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.