Restaurant Brands International Inc. $QSR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 1,522,523 shares of the restaurant operator’s stock after selling 8,242 shares during the quarter. JPMorgan Chase & Co.’s holdings in Restaurant Brands International were worth $97,659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baupost Group LLC MA lifted its holdings in Restaurant Brands International by 103.8% during the 3rd quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator’s stock worth $529,337,000 after buying an additional 4,203,300 shares in the last quarter. Norges Bank purchased a new stake in shares of Restaurant Brands International during the second quarter worth $254,948,000. State Street Corp increased its position in shares of Restaurant Brands International by 9,477.4% during the second quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator’s stock worth $198,711,000 after acquiring an additional 2,966,048 shares during the period. EdgePoint Investment Group Inc. grew its stake in Restaurant Brands International by 15.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 14,903,208 shares of the restaurant operator’s stock worth $955,855,000 after purchasing an additional 1,983,354 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Restaurant Brands International by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,303,726 shares of the restaurant operator’s stock worth $1,015,137,000 after purchasing an additional 1,134,665 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Activity at Restaurant Brands International

In related news, insider Jeffrey Housman sold 7,705 shares of Restaurant Brands International stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $67.51, for a total transaction of $520,164.55. Following the completion of the transaction, the insider directly owned 159,962 shares in the company, valued at $10,799,034.62. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Duncan Fulton sold 10,308 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $695,893.08. Following the completion of the transaction, the insider directly owned 49,677 shares of the company’s stock, valued at $3,353,694.27. The trade was a 17.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 145,191 shares of company stock valued at $10,080,956 in the last ninety days. Company insiders own 1.25% of the company’s stock.

Restaurant Brands International Stock Performance

Shares of QSR opened at $75.07 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 2.62. The firm has a market cap of $26.06 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.12 and a beta of 0.56. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $75.57. The company’s 50 day simple moving average is $69.59 and its 200-day simple moving average is $68.30.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Restaurant Brands International had a return on equity of 32.51% and a net margin of 8.23%.The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, March 19th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Thursday, March 19th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.62. Restaurant Brands International’s payout ratio is presently 105.08%.

Analyst Ratings Changes

QSR has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and set a $80.00 price objective on shares of Restaurant Brands International in a research report on Tuesday, November 25th. Scotiabank lowered their price target on shares of Restaurant Brands International from $74.00 to $71.00 and set a “sector perform” rating for the company in a report on Friday, February 13th. Truist Financial increased their price objective on shares of Restaurant Brands International from $83.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada increased their target price on Restaurant Brands International from $80.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Finally, Citigroup lowered their price objective on Restaurant Brands International from $74.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Restaurant Brands International currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.95.

Restaurant Brands International Profile

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.