Fmr LLC Decreases Stock Position in Restaurant Brands International Inc. (NYSE:QSR)

Fmr LLC reduced its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 13.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,736,439 shares of the restaurant operator’s stock after selling 1,179,885 shares during the period. Fmr LLC’s holdings in Restaurant Brands International were worth $558,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QSR. Farther Finance Advisors LLC boosted its stake in shares of Restaurant Brands International by 79.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 418 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 185 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Restaurant Brands International during the 3rd quarter valued at approximately $61,000. Crewe Advisors LLC boosted its stake in shares of Restaurant Brands International by 78.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,071 shares of the restaurant operator’s stock valued at $75,000 after buying an additional 472 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Restaurant Brands International by 123.9% during the 3rd quarter. Blue Trust Inc. now owns 1,388 shares of the restaurant operator’s stock valued at $98,000 after buying an additional 768 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Restaurant Brands International by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,754 shares of the restaurant operator’s stock valued at $126,000 after buying an additional 704 shares during the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Restaurant Brands International Trading Up 1.4 %

NYSE:QSR opened at $70.18 on Friday. Restaurant Brands International Inc. has a 1 year low of $65.87 and a 1 year high of $83.29. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.27 and a beta of 0.94. The business has a fifty day moving average of $70.23 and a 200-day moving average of $69.98. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.94 and a current ratio of 1.02.

Restaurant Brands International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be paid a $0.58 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.32 annualized dividend and a dividend yield of 3.31%. Restaurant Brands International’s payout ratio is 58.15%.

Insider Transactions at Restaurant Brands International

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the completion of the transaction, the insider now owns 37,179 shares of the company’s stock, valued at $2,551,594.77. This trade represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QSR. Guggenheim increased their target price on Restaurant Brands International from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. CIBC dropped their price target on Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating on the stock in a research report on Wednesday, November 6th. TD Cowen dropped their price target on Restaurant Brands International from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Argus dropped their price target on Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Piper Sandler dropped their price target on Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.37.

Restaurant Brands International Company Profile

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.