Desjardins Global Asset Management Inc. Invests $2.30 Million in Restaurant Brands International Inc. (NYSE:QSR)

Desjardins Global Asset Management Inc. bought a new position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 29,435 shares of the restaurant operator’s stock, valued at approximately $2,300,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QSR. Bank of New York Mellon Corp grew its holdings in Restaurant Brands International by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 301,806 shares of the restaurant operator’s stock worth $17,623,000 after acquiring an additional 2,830 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Restaurant Brands International by 2.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,183 shares of the restaurant operator’s stock worth $536,000 after acquiring an additional 229 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Restaurant Brands International by 12.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,164 shares of the restaurant operator’s stock worth $301,000 after acquiring an additional 577 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Restaurant Brands International by 73.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,076 shares of the restaurant operator’s stock valued at $413,000 after buying an additional 3,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Restaurant Brands International by 99.3% during the first quarter. Dimensional Fund Advisors LP now owns 373,323 shares of the restaurant operator’s stock valued at $21,798,000 after buying an additional 185,998 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on QSR shares. Piper Sandler decreased their price target on shares of Restaurant Brands International from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Truist Financial decreased their price target on shares of Restaurant Brands International from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Evercore increased their price target on shares of Restaurant Brands International from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Stifel Nicolaus increased their price target on shares of Restaurant Brands International from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, TD Securities decreased their price target on shares of Restaurant Brands International from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.25.

Restaurant Brands International Trading Up 0.4 %

Shares of QSR stock opened at $70.82 on Wednesday. Restaurant Brands International Inc. has a fifty-two week low of $61.77 and a fifty-two week high of $83.29. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.94 and a current ratio of 1.01. The stock’s fifty day moving average is $77.36 and its two-hundred day moving average is $73.85. The firm has a market capitalization of $22.41 billion, a P/E ratio of 18.79, a PEG ratio of 2.12 and a beta of 0.91.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Tuesday, February 13th. The restaurant operator reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. Restaurant Brands International had a return on equity of 32.20% and a net margin of 16.95%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Restaurant Brands International Inc. will post 3.4 earnings per share for the current fiscal year.

Restaurant Brands International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Wednesday, March 20th. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.55. Restaurant Brands International’s payout ratio is currently 61.54%.

Insider Transactions at Restaurant Brands International

In other news, insider Jill Granat sold 80,332 shares of Restaurant Brands International stock in a transaction on Monday, February 26th. The stock was sold at an average price of $76.20, for a total transaction of $6,121,298.40. Following the transaction, the insider now owns 410,759 shares in the company, valued at approximately $31,299,835.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Joshua Kobza sold 36,371 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $76.26, for a total value of $2,773,652.46. Following the sale, the chief executive officer now directly owns 471,746 shares in the company, valued at approximately $35,975,349.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jill Granat sold 80,332 shares of Restaurant Brands International stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $76.20, for a total value of $6,121,298.40. Following the completion of the transaction, the insider now directly owns 410,759 shares of the company’s stock, valued at $31,299,835.80. The disclosure for this sale can be found here. Insiders have sold a total of 380,200 shares of company stock worth $28,828,182 in the last quarter. Company insiders own 1.25% of the company’s stock.

Restaurant Brands International Company Profile

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.