Zweig DiMenna Associates LLC Has $13.53 Million Position in Restaurant Brands International Inc. (QSR)
Zweig DiMenna Associates LLC grew its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1,086.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 211,856 shares of the restaurant operator’s stock after purchasing an additional 194,000 shares during the period. Restaurant Brands International comprises about 1.2% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 27th largest position. Zweig DiMenna Associates LLC owned approximately 0.09% of Restaurant Brands International worth $13,533,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its holdings in Restaurant Brands International by 10.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock worth $135,000 after purchasing an additional 200 shares during the period. Commonwealth Bank of Australia raised its holdings in Restaurant Brands International by 9.0% in the second quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock worth $197,000 after purchasing an additional 261 shares during the period. PNC Financial Services Group Inc. raised its holdings in Restaurant Brands International by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock worth $179,000 after purchasing an additional 306 shares during the period. Enterprise Financial Services Corp raised its holdings in Restaurant Brands International by 16,250.0% in the third quarter. Enterprise Financial Services Corp now owns 3,270 shares of the restaurant operator’s stock worth $209,000 after purchasing an additional 3,250 shares during the period. Finally, Cigna Investments Inc. New acquired a new stake in Restaurant Brands International in the second quarter worth $211,000. Institutional investors own 75.67% of the company’s stock.
In other news, EVP Jose E. Cil sold 70,146 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $66.01, for a total value of $4,630,337.46. Following the transaction, the executive vice president now owns 343,496 shares in the company, valued at approximately $22,674,170.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jose E. Cil sold 132,911 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $63.77, for a total transaction of $8,475,734.47. Following the transaction, the executive vice president now owns 174,631 shares in the company, valued at approximately $11,136,218.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,011,880 shares of company stock worth $65,297,770. Insiders own 3.05% of the company’s stock.
Shares of Restaurant Brands International Inc. (QSR) traded up $0.18 during trading on Friday, reaching $65.12. 1,316,400 shares of the company’s stock traded hands, compared to its average volume of 1,423,908. 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 Inc. has a twelve month low of $42.35 and a twelve month high of $68.89. The firm has a market cap of $15,468.15, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.94 and a beta of 1.75.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, October 26th. The restaurant operator reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Restaurant Brands International had a net margin of 12.40% and a return on equity of 23.53%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. equities analysts forecast that Restaurant Brands International Inc. will post 1.98 EPS for the current year.
Restaurant Brands International declared that its board has authorized a stock buyback program on Wednesday, August 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The company 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 is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, December 14th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 55.17%.
QSR has been the subject of several research reports. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, August 29th. Credit Suisse Group raised shares of Restaurant Brands International from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $74.00 in a research report on Thursday, September 7th. UBS AG set a $68.00 price objective on shares of Restaurant Brands International and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets increased their price objective on shares of Restaurant Brands International from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $69.00 price objective on shares of Restaurant Brands International in a research report on Monday, September 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $69.88.
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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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