TIAA CREF Investment Management LLC raised its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,299,324 shares of the restaurant operator’s stock after purchasing an additional 37,195 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.55% of Restaurant Brands International worth $81,260,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC lifted its holdings in Restaurant Brands International by 7.6% during the 1st quarter. FMR LLC now owns 13,964,143 shares of the restaurant operator’s stock valued at $777,880,000 after purchasing an additional 989,549 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Restaurant Brands International by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 8,445,609 shares of the restaurant operator’s stock valued at $528,188,000 after purchasing an additional 81,256 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Restaurant Brands International by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 4,719,182 shares of the restaurant operator’s stock valued at $263,048,000 after purchasing an additional 193,389 shares during the last quarter. Valinor Management L.P. lifted its holdings in Restaurant Brands International by 7.8% during the 1st quarter. Valinor Management L.P. now owns 3,752,166 shares of the restaurant operator’s stock valued at $209,145,000 after purchasing an additional 270,071 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Restaurant Brands International by 0.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,840,422 shares of the restaurant operator’s stock valued at $115,100,000 after purchasing an additional 10,625 shares during the last quarter. 76.68% of the stock is owned by institutional investors and hedge funds.

In other news, Director Ali Hedayat purchased 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $61.32 per share, for a total transaction of $306,600.00. Following the purchase, the director now owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

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Several brokerages have issued reports on QSR. UBS AG raised Restaurant Brands International from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 14th. Zacks Investment Research downgraded Restaurant Brands International from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America Corporation reaffirmed a “neutral” rating and set a $62.00 price target on shares of Restaurant Brands International in a report on Monday, August 14th. BidaskClub downgraded Restaurant Brands International from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, BMO Capital Markets raised their price target on Restaurant Brands International from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $65.69.

Shares of Restaurant Brands International Inc. (NYSE QSR) opened at 63.02 on Friday. The stock’s 50 day moving average price is $61.23 and its 200-day moving average price is $59.10. Restaurant Brands International Inc. has a 12-month low of $42.35 and a 12-month high of $64.97. The firm has a market cap of $14.89 billion, a P/E ratio of 44.10 and a beta of 1.77.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, analysts predict that Restaurant Brands International Inc. will post $1.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.20 per share. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. Restaurant Brands International’s dividend payout ratio is presently 55.56%.

Restaurant Brands International declared that its board has authorized a stock repurchase program on Wednesday, August 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.

Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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