PDT Partners LLC Has $2,224,000 Stake in Restaurant Brands International Inc. (QSR)
PDT Partners LLC continued to hold its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,579 shares of the restaurant operator’s stock at the end of the second quarter. PDT Partners LLC’s holdings in Restaurant Brands International were worth $2,224,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in QSR. Balyasny Asset Management LLC acquired a new position in shares of Restaurant Brands International during the 2nd quarter worth $29,644,000. Junto Capital Management LP purchased a new stake in shares of Restaurant Brands International in the 2nd quarter worth about $25,899,000. HighVista Strategies LLC purchased a new stake in shares of Restaurant Brands International in the 2nd quarter worth about $3,102,000. Hillsdale Investment Management Inc. boosted its position in shares of Restaurant Brands International by 141.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 24,900 shares of the restaurant operator’s stock worth $1,558,000 after buying an additional 14,600 shares in the last quarter. Finally, Conatus Capital Management LP boosted its position in shares of Restaurant Brands International by 77.5% in the 2nd quarter. Conatus Capital Management LP now owns 598,467 shares of the restaurant operator’s stock worth $37,428,000 after buying an additional 261,261 shares in the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.
Shares of Restaurant Brands International Inc. (QSR) opened at 64.04 on Wednesday. The firm has a 50-day moving average of $62.58 and a 200 day moving average of $60.03. Restaurant Brands International Inc. has a 1-year low of $42.35 and a 1-year high of $65.92. The stock has a market capitalization of $15.13 billion, a PE ratio of 44.81 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. On average, equities analysts anticipate that Restaurant Brands International Inc. will post $1.90 earnings per share for the current fiscal year.
Restaurant Brands International declared that its Board of Directors has approved a share buyback plan on Wednesday, August 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, September 14th. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.19. Restaurant Brands International’s dividend payout ratio (DPR) is 55.56%.
A number of brokerages recently commented on QSR. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Monday, September 18th. Royal Bank Of Canada restated a “buy” rating and set a $69.00 target price on shares of Restaurant Brands International in a report on Monday, September 11th. Credit Suisse Group upgraded shares of Restaurant Brands International from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $74.00 in a research 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 raised shares of Restaurant Brands International from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $67.60.
In other news, EVP Jose E. Cil sold 60,832 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 73,618 shares of the company’s stock, valued at $4,712,288.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ali Hedayat purchased 5,000 shares of Restaurant Brands International stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $61.32 per share, with a total value of $306,600.00. Following the completion of the transaction, the director now directly owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The disclosure for this purchase can be found here. Company insiders own 3.05% of the company’s stock.
About Restaurant Brands International
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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