Restaurant Brands International Inc. (QSR) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 119,942 shares of the restaurant operator’s stock after acquiring an additional 1,578 shares during the period. CIBC Asset Management Inc owned about 0.05% of Restaurant Brands International worth $7,643,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in shares of Restaurant Brands International by 10.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock valued at $135,000 after acquiring an additional 200 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Restaurant Brands International by 9.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock valued at $197,000 after acquiring an additional 261 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Restaurant Brands International by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after acquiring an additional 306 shares during the period. Enterprise Financial Services Corp raised its stake in shares of Restaurant Brands International by 16,250.0% in the 3rd quarter. Enterprise Financial Services Corp now owns 3,270 shares of the restaurant operator’s stock valued at $209,000 after acquiring an additional 3,250 shares during the period. Finally, Cigna Investments Inc. New purchased a new stake in shares of Restaurant Brands International in the 2nd quarter valued at approximately $211,000. 75.53% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Inc. (QSR) traded up $0.10 during midday trading on Tuesday, reaching $65.22. 1,795,000 shares of the company’s stock traded hands, compared to its average volume of 1,051,726. 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 12 month low of $42.35 and a 12 month high of $68.89. The firm has a market cap of $15,468.12, a PE ratio of 34.46, a PEG ratio of 1.94 and a beta of 1.75.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $0.58 EPS for the quarter, topping 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 company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The firm’s revenue was up 12.4% on a year-over-year basis. sell-side analysts predict that Restaurant Brands International Inc. will post 1.98 earnings per share for the current year.

Restaurant Brands International declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.20. Restaurant Brands International’s payout ratio is 55.17%.

QSR has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on shares of Restaurant Brands International from $69.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Tuesday, September 12th. Credit Suisse Group raised shares of Restaurant Brands International from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $74.00 in a research note on Thursday, September 7th. Scotiabank boosted their price target on shares of Restaurant Brands International from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. upped their target price on shares of Restaurant Brands International from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Restaurant Brands International currently has a consensus rating of “Buy” and a consensus target price of $69.88.

In other news, EVP Jose E. Cil sold 38,480 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $65.00, for a total value of $2,501,200.00. Following the completion of the transaction, the executive vice president now owns 350,613 shares in the company, valued at approximately $22,789,845. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jose E. Cil sold 132,911 shares of the company’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 completion of the transaction, the executive vice president now owns 174,631 shares of the company’s stock, valued at approximately $11,136,218.87. The disclosure for this sale can be found here. Insiders have sold a total of 5,100,954 shares of company stock valued at $329,872,401 in the last quarter. 3.05% of the stock is currently owned by company insiders.

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

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