Norges Bank Acquires Shares of 4,066,730 Restaurant Brands International Inc. (NYSE:QSR)

Norges Bank bought a new position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,066,730 shares of the restaurant operator’s stock, valued at approximately $264,813,000. Norges Bank owned 1.25% of Restaurant Brands International at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Bleakley Financial Group LLC boosted its position in Restaurant Brands International by 5.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,137 shares of the restaurant operator’s stock worth $204,000 after purchasing an additional 161 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Restaurant Brands International by 2.2% during the 3rd quarter. D.A. Davidson & CO. now owns 8,412 shares of the restaurant operator’s stock worth $607,000 after buying an additional 179 shares during the period. Waterfront Wealth Inc. grew its stake in Restaurant Brands International by 1.3% in the 4th quarter. Waterfront Wealth Inc. now owns 14,034 shares of the restaurant operator’s stock valued at $915,000 after buying an additional 180 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Restaurant Brands International by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,507 shares of the restaurant operator’s stock valued at $325,000 after acquiring an additional 210 shares during the period. Finally, Signaturefd LLC lifted its position in Restaurant Brands International by 3.2% during the fourth quarter. Signaturefd LLC now owns 6,687 shares of the restaurant operator’s stock worth $436,000 after acquiring an additional 210 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QSR. JPMorgan Chase & Co. decreased their target price on Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Stifel Nicolaus lowered their price objective on Restaurant Brands International from $72.00 to $68.00 and set a “hold” rating on the stock in a research report on Friday, January 10th. CIBC reduced their target price on shares of Restaurant Brands International from $86.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Morgan Stanley lowered their price target on shares of Restaurant Brands International from $81.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Finally, Barclays cut their price objective on shares of Restaurant Brands International from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.08.

Restaurant Brands International Stock Down 6.1 %

Shares of QSR opened at $64.52 on Friday. 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 Inc. has a 52 week low of $59.67 and a 52 week high of $79.28. The stock has a market capitalization of $21.12 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.77 and a beta of 0.95. The stock has a fifty day moving average of $64.88 and a 200-day moving average of $67.23.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its earnings results on Wednesday, February 12th. The restaurant operator reported $0.81 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.29). Restaurant Brands International had a net margin of 12.15% and a return on equity of 28.53%. As a group, sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a dividend of $0.62 per share. The ex-dividend date is Friday, March 21st. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.58. This represents a $2.48 annualized dividend and a yield of 3.84%. Restaurant Brands International’s dividend payout ratio (DPR) is currently 77.99%.

Insider Buying and Selling at Restaurant Brands International

In related news, CFO Sami A. Siddiqui sold 5,579 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $358,171.80. Following the completion of the sale, the chief financial officer now directly owns 27,266 shares in the company, valued at $1,750,477.20. This represents a 16.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joshua Kobza sold 12,420 shares of Restaurant Brands International stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $797,364.00. Following the transaction, the chief executive officer now directly owns 703,445 shares in the company, valued at $45,161,169. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 300,226 shares of company stock worth $19,121,223. 1.36% of the stock is currently owned by company insiders.

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.