Scotia Capital Inc. Raises Stake in Restaurant Brands International Inc (NYSE:QSR)

Scotia Capital Inc. raised its holdings in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 876,055 shares of the restaurant operator’s stock after acquiring an additional 91,070 shares during the period. Scotia Capital Inc. owned about 0.34% of Restaurant Brands International worth $60,708,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Parametric Portfolio Associates LLC grew its position in Restaurant Brands International by 6.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 144,244 shares of the restaurant operator’s stock valued at $10,031,000 after acquiring an additional 9,175 shares during the last quarter. Athanor Capital LP purchased a new stake in shares of Restaurant Brands International in the second quarter valued at approximately $243,000. Natixis purchased a new stake in shares of Restaurant Brands International in the second quarter valued at approximately $937,000. Pictet Asset Management Ltd. grew its holdings in Restaurant Brands International by 1.0% during the second quarter. Pictet Asset Management Ltd. now owns 81,571 shares of the restaurant operator’s stock worth $5,685,000 after acquiring an additional 800 shares during the period. Finally, Glen Harbor Capital Management LLC grew its holdings in Restaurant Brands International by 15.5% during the second quarter. Glen Harbor Capital Management LLC now owns 2,032 shares of the restaurant operator’s stock worth $136,000 after acquiring an additional 272 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Restaurant Brands International stock traded up $0.39 during mid-day trading on Wednesday, reaching $72.19. 154,426 shares of the stock were exchanged, compared to its average volume of 2,847,331. Restaurant Brands International Inc has a fifty-two week low of $50.20 and a fifty-two week high of $79.46. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.97 and a beta of 1.23. The firm has a 50-day simple moving average of $75.63 and a 200 day simple moving average of $69.00. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 3.30.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Friday, August 2nd. The restaurant operator reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Restaurant Brands International had a net margin of 10.57% and a return on equity of 30.53%. Restaurant Brands International’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS. On average, research analysts predict that Restaurant Brands International Inc will post 2.7 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Tuesday, September 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.77%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 76.05%.

A number of research firms have commented on QSR. Deutsche Bank began coverage on Restaurant Brands International in a report on Wednesday, September 4th. They issued a “hold” rating and a $73.00 target price for the company. Stephens raised their price target on shares of Restaurant Brands International from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Co lifted their price objective on shares of Restaurant Brands International from $70.00 to $79.00 and gave the company a “market perform” rating in a research note on Monday, July 22nd. Zacks Investment Research upgraded shares of Restaurant Brands International from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Finally, Oppenheimer increased their target price on shares of Restaurant Brands International from $75.00 to $83.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $78.11.

In related news, CEO Jose E. Cil sold 122,680 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $77.74, for a total transaction of $9,537,143.20. Following the transaction, the chief executive officer now directly owns 647,068 shares of the company’s stock, valued at $50,303,066.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Fribourg sold 488,024 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $77.20, for a total transaction of $37,675,452.80. Following the transaction, the director now owns 58,005 shares in the company, valued at $4,477,986. The disclosure for this sale can be found here. In the last quarter, insiders sold 840,294 shares of company stock valued at $64,840,016. 4.13% of the stock is owned by company insiders.

Restaurant Brands International Profile

Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.

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Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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