Restaurant Brands International Inc. (NYSE:QSR) Short Interest Down 37.0% in August

Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 8,860,000 shares, a drop of 37.0% from the August 15th total of 14,070,000 shares. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily volume of 1,680,000 shares, the short-interest ratio is presently 5.3 days.

Insider Activity

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total transaction of $448,565.68. Following the sale, the insider now owns 37,179 shares of the company’s stock, valued at $2,551,594.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the completion of the transaction, the insider now directly owns 37,179 shares in the company, valued at $2,551,594.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $70.44, for a total value of $2,535,840.00. Following the sale, the insider now owns 97,479 shares in the company, valued at $6,866,420.76. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Restaurant Brands International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors grew its position in Restaurant Brands International by 19.8% in the 4th quarter. Capital Research Global Investors now owns 24,012,659 shares of the restaurant operator’s stock worth $1,876,109,000 after purchasing an additional 3,971,774 shares in the last quarter. Norges Bank bought a new position in shares of Restaurant Brands International in the fourth quarter valued at approximately $243,551,000. D1 Capital Partners L.P. purchased a new stake in shares of Restaurant Brands International during the second quarter valued at approximately $200,097,000. TD Asset Management Inc lifted its holdings in Restaurant Brands International by 41.0% during the first quarter. TD Asset Management Inc now owns 4,847,985 shares of the restaurant operator’s stock worth $385,361,000 after acquiring an additional 1,409,552 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Restaurant Brands International by 72.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,655,157 shares of the restaurant operator’s stock worth $211,059,000 after purchasing an additional 1,119,582 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Restaurant Brands International Stock Up 0.1 %

Shares of QSR traded up $0.04 during trading hours on Friday, reaching $69.18. The stock had a trading volume of 1,430,695 shares, compared to its average volume of 1,624,724. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 2.08 and a beta of 0.93. The firm has a 50-day simple moving average of $70.28 and a 200 day simple moving average of $72.28. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 2.71. Restaurant Brands International has a 12 month low of $61.77 and a 12 month high of $83.29.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. Equities research analysts predict that Restaurant Brands International will post 3.36 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio is currently 59.79%.

Analysts Set New Price Targets

A number of brokerages have recently commented on QSR. Guggenheim lifted their price target on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Wells Fargo & Company cut their target price on Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Truist Financial decreased their price target on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus cut their price objective on Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, TD Cowen reiterated a “buy” rating and issued a $82.00 target price on shares of Restaurant Brands International in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.04.

About Restaurant Brands International

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.