Federated Hermes Inc. Buys Shares of 58,972 Restaurant Brands International Inc. $QSR

Federated Hermes Inc. purchased a new position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 58,972 shares of the restaurant operator’s stock, valued at approximately $3,782,000.

Several other hedge funds also recently modified their holdings of QSR. AQR Capital Management LLC bought a new position in Restaurant Brands International during the first quarter worth $237,000. Hardy Reed LLC bought a new position in shares of Restaurant Brands International during the 2nd quarter worth about $267,000. Maryland State Retirement & Pension System acquired a new position in shares of Restaurant Brands International during the second quarter valued at about $1,042,000. Baskin Financial Services Inc. lifted its stake in shares of Restaurant Brands International by 1.3% in the second quarter. Baskin Financial Services Inc. now owns 346,623 shares of the restaurant operator’s stock valued at $22,990,000 after buying an additional 4,424 shares during the period. Finally, Louisbourg Investments Inc. grew its position in Restaurant Brands International by 11.2% during the second quarter. Louisbourg Investments Inc. now owns 74,109 shares of the restaurant operator’s stock worth $4,907,000 after buying an additional 7,440 shares in the last quarter. 82.29% of the stock is owned by institutional investors.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $66.72 on Wednesday. The stock has a market capitalization of $23.11 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.58. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 2.65. Restaurant Brands International Inc. has a 1 year low of $58.71 and a 1 year high of $73.70. The firm has a 50 day moving average of $69.44 and a 200-day moving average of $67.43.

Insider Activity at Restaurant Brands International

In other Restaurant Brands International news, insider Peter Perdue sold 396 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $67.44, for a total value of $26,706.24. Following the completion of the sale, the insider owned 36,997 shares in the company, valued at approximately $2,495,077.68. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thiago T. Santelmo sold 699 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $67.44, for a total transaction of $47,140.56. Following the transaction, the insider owned 64,088 shares in the company, valued at $4,322,094.72. The trade was a 1.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 145,508 shares of company stock valued at $10,233,040. 1.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Restaurant Brands International in a report on Tuesday, December 9th. Oppenheimer restated an “outperform” rating and issued a $80.00 target price on shares of Restaurant Brands International in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Restaurant Brands International in a research note on Thursday, January 22nd. Morgan Stanley set a $77.00 price target on shares of Restaurant Brands International in a report on Tuesday, October 21st. Finally, Citigroup reduced their price objective on shares of Restaurant Brands International from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.95.

About Restaurant Brands International

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.