4,921 Shares in Restaurant Brands International Inc. (QSR) Acquired by Suntrust Banks Inc.
Suntrust Banks Inc. purchased a new position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,921 shares of the restaurant operator’s stock, valued at approximately $307,000.
A number of other hedge funds have also bought and sold shares of QSR. BNP Paribas Arbitrage SA boosted its stake in 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 worth $135,000 after purchasing an additional 200 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Restaurant Brands International by 10.5% during 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 last quarter. Commonwealth Bank of Australia boosted its position in shares of Restaurant Brands International by 9.0% during 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 last quarter. Cigna Investments Inc. New bought a new position in shares of Restaurant Brands International during the 2nd quarter valued at approximately $211,000. Finally, SG Americas Securities LLC bought a new position in shares of Restaurant Brands International during the 1st quarter valued at approximately $230,000. Institutional investors and hedge funds own 76.43% of the company’s stock.
A number of research firms have recently commented on QSR. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, September 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $69.00 target price on shares of Restaurant Brands International in a research report on Monday, September 11th. UBS AG set a $68.00 target price on Restaurant Brands International and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Instinet began coverage on Restaurant Brands International in a research report on Wednesday, July 12th. They set a “buy” rating and a $73.00 target price for the company. Finally, Nomura began coverage on Restaurant Brands International in a research report on Wednesday, July 12th. They set a “buy” rating and a $73.00 target price for the company. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Restaurant Brands International has an average rating of “Buy” and an average target price of $67.60.
Shares of Restaurant Brands International Inc. (NYSE:QSR) opened at 66.27 on Monday. The company has a market capitalization of $15.66 billion, a P/E ratio of 46.38 and a beta of 1.77. Restaurant Brands International Inc. has a 12 month low of $42.35 and a 12 month high of $66.54. The company has a 50-day moving average price of $63.65 and a 200-day moving average price of $60.63.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts forecast that Restaurant Brands International Inc. will post $1.90 EPS for the current fiscal year.
Restaurant Brands International declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.19. Restaurant Brands International’s payout ratio is 55.56%.
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In other news, EVP Jose E. Cil sold 132,911 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $63.77, for a total value of $8,475,734.47. Following the transaction, the executive vice president now owns 174,631 shares of the company’s stock, valued at approximately $11,136,218.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jose E. Cil sold 60,832 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $64.01, for a total value of $3,893,856.32. Following the completion of the transaction, the executive vice president now directly owns 73,618 shares in the company, valued at approximately $4,712,288.18. The disclosure for this sale can be found here. Insiders own 3.05% of the company’s stock.
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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