10,009 Restaurant Brands International Inc. $QSR Shares Sold by Baskin Financial Services Inc.

Baskin Financial Services Inc. lowered its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 326,922 shares of the restaurant operator’s stock after selling 10,009 shares during the period. Restaurant Brands International makes up about 1.9% of Baskin Financial Services Inc.’s holdings, making the stock its 24th biggest position. Baskin Financial Services Inc. owned 0.09% of Restaurant Brands International worth $23,248,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of Restaurant Brands International by 143.9% during the 1st quarter. Bank of America Corp DE now owns 4,932,662 shares of the restaurant operator’s stock valued at $364,524,000 after acquiring an additional 2,910,454 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Restaurant Brands International by 16.2% in the first quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator’s stock worth $1,432,015,000 after purchasing an additional 2,703,134 shares during the period. London Co. of Virginia bought a new stake in Restaurant Brands International in the first quarter valued at $147,967,000. Cullen Capital Management LLC bought a new stake in Restaurant Brands International in the second quarter valued at $128,350,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Restaurant Brands International during the second quarter valued at about $78,678,000. 82.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QSR. Weiss Ratings raised shares of Restaurant Brands International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Scotiabank decreased their target price on Restaurant Brands International from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price target on Restaurant Brands International from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Guggenheim increased their price target on Restaurant Brands International from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Robert W. Baird raised their price objective on Restaurant Brands International from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Restaurant Brands International Stock Down 0.4%

Shares of Restaurant Brands International stock traded down $0.29 during trading hours on Monday, reaching $74.52. The company’s stock had a trading volume of 653,019 shares, compared to its average volume of 3,193,832. Restaurant Brands International Inc. has a one year low of $64.52 and a one year high of $81.96. The company has a market capitalization of $25.99 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.01 and a beta of 0.52. The stock’s fifty day simple moving average is $75.06 and its two-hundred day simple moving average is $75.29. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.92 and a current ratio of 1.01.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. On average, research analysts forecast that Restaurant Brands International Inc. will post 4.19 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 18th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $2.60 annualized dividend and a yield of 3.5%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 69.89%.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Schwan sold 57,574 shares of Restaurant Brands International stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $81.14, for a total transaction of $4,671,554.36. Following the completion of the transaction, the insider owned 209,908 shares in the company, valued at approximately $17,031,935.12. The trade was a 21.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% of the company’s stock.

Restaurant Brands International Profile

Restaurant Brands International Inc (NYSE:QSR) is a global quick-service restaurant company that owns and operates a portfolio of restaurant brands, primarily through franchised and licensed locations. Its brands include Tim Hortons, Burger King, Popeyes and Firehouse Subs, which serve coffee, baked goods, burgers, chicken, sandwiches and other prepared foods.

The company was formed in 2014 through the merger of Burger King Worldwide and Tim Hortons. RBI expanded its portfolio through the acquisition of Popeyes Louisiana Kitchen in 2017 and Firehouse Restaurant Group in 2021.