Intact Investment Management Inc. Acquires 74,600 Shares of Restaurant Brands International Inc. (QSR)
Intact Investment Management Inc. boosted its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 41.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254,308 shares of the restaurant operator’s stock after purchasing an additional 74,600 shares during the quarter. Intact Investment Management Inc. owned about 0.11% of Restaurant Brands International worth $20,268,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in QSR. FMR LLC grew its holdings in Restaurant Brands International by 10.9% in the second quarter. FMR LLC now owns 15,492,590 shares of the restaurant operator’s stock worth $969,362,000 after purchasing an additional 1,528,447 shares during the period. Fiera Capital Corp grew its holdings in Restaurant Brands International by 481.6% in the second quarter. Fiera Capital Corp now owns 1,338,343 shares of the restaurant operator’s stock worth $83,591,000 after purchasing an additional 1,108,231 shares during the period. Mik Capital LLC purchased a new stake in Restaurant Brands International in the second quarter worth about $52,536,000. CI Global Investments Inc. grew its holdings in Restaurant Brands International by 15,143.9% in the second quarter. CI Global Investments Inc. now owns 500,000 shares of the restaurant operator’s stock worth $31,270,000 after purchasing an additional 496,720 shares during the period. Finally, Balyasny Asset Management LLC purchased a new stake in Restaurant Brands International in the second quarter worth about $29,644,000. Institutional investors and hedge funds own 76.24% of the company’s stock.
In other Restaurant Brands International news, EVP Jose E. Cil sold 132,911 shares of Restaurant Brands International stock in a transaction that occurred 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 sale, the executive vice president now directly owns 174,631 shares in the company, valued at approximately $11,136,218.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ali Hedayat acquired 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were acquired at an average price of $61.32 per share, with a total value of $306,600.00. Following the completion of the purchase, the director now owns 25,966 shares in the company, valued at approximately $1,592,235.12. The disclosure for this purchase can be found here. 3.05% of the stock is currently owned by insiders.
A number of brokerages have weighed in on QSR. UBS AG restated a “buy” rating and issued a $68.00 price objective (up previously from $64.00) on shares of Restaurant Brands International in a report on Thursday, August 3rd. Royal Bank Of Canada upped their price objective on shares of Restaurant Brands International from $69.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. BidaskClub cut shares of Restaurant Brands International from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Scotiabank upped their target price on shares of Restaurant Brands International from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Monday, September 18th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $69.06.
Shares of Restaurant Brands International Inc. (NYSE:QSR) traded up 0.45% on Tuesday, reaching $64.89. 516,335 shares of the company were exchanged. The stock has a market capitalization of $15.33 billion, a price-to-earnings ratio of 45.41 and a beta of 1.77. Restaurant Brands International Inc. has a 52 week low of $42.35 and a 52 week high of $68.89. The firm’s 50 day moving average price is $65.14 and its 200 day moving average price is $61.48.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, October 26th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Restaurant Brands International had a net margin of 12.40% and a return on equity of 23.53%. Restaurant Brands International’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. Equities research analysts anticipate that Restaurant Brands International Inc. will post $1.94 EPS for the current year.
Restaurant Brands International announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the restaurant operator to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, December 14th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.20. Restaurant Brands International’s payout ratio is currently 55.17%.
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Restaurant Brands International Company 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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