Principal Financial Group Inc. Sells 800 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Principal Financial Group Inc. trimmed its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,568 shares of the restaurant operator’s stock after selling 800 shares during the quarter. Principal Financial Group Inc.’s holdings in Restaurant Brands International were worth $1,635,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QSR. Parallel Advisors LLC boosted its stake in shares of Restaurant Brands International by 24.1% in the 4th quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock valued at $62,000 after purchasing an additional 153 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Restaurant Brands International by 3.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,922 shares of the restaurant operator’s stock valued at $391,000 after purchasing an additional 170 shares during the last quarter. Rise Advisors LLC boosted its stake in shares of Restaurant Brands International by 88.3% in the 4th quarter. Rise Advisors LLC now owns 371 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 174 shares during the last quarter. Waldron Private Wealth LLC boosted its stake in shares of Restaurant Brands International by 4.5% in the 4th quarter. Waldron Private Wealth LLC now owns 4,647 shares of the restaurant operator’s stock valued at $365,000 after purchasing an additional 199 shares during the last quarter. Finally, Townsquare Capital LLC boosted its stake in shares of Restaurant Brands International by 0.6% in the 3rd quarter. Townsquare Capital LLC now owns 33,915 shares of the restaurant operator’s stock valued at $2,259,000 after purchasing an additional 212 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Cowen reiterated a “buy” rating and set a $88.00 target price on shares of Restaurant Brands International in a research report on Thursday, June 13th. KeyCorp dropped their target price on shares of Restaurant Brands International from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Scotiabank boosted their target price on shares of Restaurant Brands International from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. The Goldman Sachs Group assumed coverage on shares of Restaurant Brands International in a research report on Thursday, June 13th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Citigroup upped their price objective on shares of Restaurant Brands International from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.03.

Insiders Place Their Bets

In related news, Director Ali Hedayat sold 8,537 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $74.75, for a total value of $638,140.75. Following the sale, the director now directly owns 22,881 shares of the company’s stock, valued at $1,710,354.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Joshua Kobza sold 246,196 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.17, for a total value of $18,506,553.32. Following the sale, the chief executive officer now directly owns 595,764 shares of the company’s stock, valued at approximately $44,783,579.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ali Hedayat sold 8,537 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $74.75, for a total transaction of $638,140.75. Following the completion of the sale, the director now directly owns 22,881 shares in the company, valued at $1,710,354.75. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Restaurant Brands International Stock Performance

QSR traded down $0.06 during trading on Friday, hitting $69.87. 233,088 shares of the company traded hands, compared to its average volume of 1,570,394. The firm has a market cap of $22.13 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92. The stock’s fifty day moving average is $70.39 and its 200 day moving average is $74.68. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 2.72. Restaurant Brands International Inc. has a one year low of $61.77 and a one year high of $83.29.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.70 billion. Restaurant Brands International had a net margin of 17.17% and a return on equity of 31.12%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. As a group, equities analysts predict that Restaurant Brands International Inc. will post 3.37 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 21st will be given a dividend of $0.58 per share. The ex-dividend date is Friday, June 21st. This represents a $2.32 dividend on an annualized basis and a yield of 3.32%. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

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.