Restaurant Brands International Inc. (QSR) EVP Sells 132,911 Shares
Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) EVP Jose E. Cil sold 132,911 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $63.77, for a total transaction of $8,475,734.47. Following the completion of the transaction, the executive vice president now owns 174,631 shares in the company, valued at $11,136,218.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Restaurant Brands International Inc. (NYSE:QSR) traded up 0.61% during midday trading on Monday, reaching $64.27. 844,761 shares of the company’s stock traded hands. The company has a 50-day moving average of $61.50 and a 200-day moving average of $59.31. Restaurant Brands International Inc. has a one year low of $42.35 and a one year high of $65.92. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 44.98 and a beta of 1.77.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Restaurant Brands International Inc. will post $1.90 EPS for the current year.
Restaurant Brands International announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.25%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 14th. Restaurant Brands International’s payout ratio is presently 55.56%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Westpac Banking Corp boosted its stake in shares of Restaurant Brands International by 1,037.1% during the 1st quarter. Westpac Banking Corp now owns 1,933 shares of the restaurant operator’s stock worth $108,000 after purchasing an additional 1,763 shares during the period. BNP Paribas Arbitrage SA raised its position 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. raised its position in Restaurant Brands International by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock worth $179,000 after purchasing an additional 306 shares during the period. Commonwealth Bank of Australia raised its position in Restaurant Brands International by 9.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock worth $197,000 after purchasing an additional 261 shares during the period. Finally, Cigna Investments Inc. New purchased a new stake in Restaurant Brands International in the 2nd quarter worth about $211,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on QSR shares. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Monday, September 18th. Royal Bank Of Canada restated a “buy” rating and set a $69.00 price objective on shares of Restaurant Brands International in a research report on Monday, September 11th. Credit Suisse Group raised shares of Restaurant Brands International from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $74.00 in a report on Thursday, September 7th. UBS AG set a $68.00 target price on shares of Restaurant Brands International and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub upgraded Restaurant Brands International from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Restaurant Brands International currently has a consensus rating of “Buy” and an average price target of $67.60.
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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