Restaurant Brands International Inc (QSR) Shares Bought by PCJ Investment Counsel Ltd.
PCJ Investment Counsel Ltd. increased its position in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 683,821 shares of the restaurant operator’s stock after acquiring an additional 28,500 shares during the period. Restaurant Brands International makes up about 3.3% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 12th largest position. PCJ Investment Counsel Ltd. owned approximately 0.27% of Restaurant Brands International worth $40,468,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new position in Restaurant Brands International during the second quarter worth about $133,000. San Francisco Sentry Investment Group CA boosted its position in shares of Restaurant Brands International by 166.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,317 shares of the restaurant operator’s stock valued at $137,000 after purchasing an additional 1,446 shares during the period. SG Americas Securities LLC acquired a new position in shares of Restaurant Brands International in the 2nd quarter valued at $162,000. Riverhead Capital Management LLC boosted its position in shares of Restaurant Brands International by 52.0% in the 3rd quarter. Riverhead Capital Management LLC now owns 3,508 shares of the restaurant operator’s stock valued at $207,000 after purchasing an additional 1,200 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Restaurant Brands International by 56.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,722 shares of the restaurant operator’s stock valued at $225,000 after purchasing an additional 1,337 shares during the period. 80.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QSR traded down $1.15 during midday trading on Thursday, reaching $55.17. 16,483 shares of the stock were exchanged, compared to its average volume of 1,320,430. Restaurant Brands International Inc has a 12-month low of $52.06 and a 12-month high of $65.17. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.34 and a quick ratio of 1.27. The company has a market capitalization of $14.14 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.63 and a beta of 1.37.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Monday, December 17th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, December 14th. Restaurant Brands International’s dividend payout ratio (DPR) is presently 85.71%.
QSR has been the subject of a number of recent analyst reports. ValuEngine lowered Restaurant Brands International from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. Wells Fargo & Co decreased their price objective on Restaurant Brands International from $69.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, October 16th. Citigroup raised their price objective on Restaurant Brands International from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. KeyCorp began coverage on Restaurant Brands International in a research report on Wednesday, October 3rd. They set an “overweight” rating and a $68.00 price objective for the company. Finally, UBS Group set a $74.00 price objective on Restaurant Brands International and gave the stock a “buy” rating in a research report on Thursday, October 18th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $69.80.
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Restaurant Brands International Company Profile
Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.
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