IFP Advisors Inc Sells 665 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Posted by Defense World Staff on May 19th, 2023

IFP Advisors Inc decreased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR – Get Rating) (TSE:QSR) by 53.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589 shares of the restaurant operator’s stock after selling 665 shares during the period. IFP Advisors Inc’s holdings in Restaurant Brands International were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QSR. Legend Financial Advisors Inc. bought a new position in Restaurant Brands International in the third quarter worth approximately $27,000. Spire Wealth Management boosted its holdings in Restaurant Brands International by 378.4% in the fourth quarter. Spire Wealth Management now owns 421 shares of the restaurant operator’s stock worth $27,000 after acquiring an additional 333 shares in the last quarter. Optiver Holding B.V. bought a new position in Restaurant Brands International in the third quarter worth approximately $32,000. RFP Financial Group LLC bought a new position in Restaurant Brands International in the fourth quarter worth approximately $32,000. Finally, Accurate Wealth Management LLC bought a new position in Restaurant Brands International in the fourth quarter worth approximately $44,000. Institutional investors own 77.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup cut their price target on Restaurant Brands International from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, February 15th. Scotiabank assumed coverage on Restaurant Brands International in a report on Tuesday, March 28th. They issued a “sector outperform” rating and a $72.00 target price on the stock. Truist Financial raised their target price on Restaurant Brands International from $78.00 to $80.00 in a report on Wednesday, May 3rd. Wells Fargo & Company assumed coverage on Restaurant Brands International in a report on Monday, January 23rd. They issued an “equal weight” rating and a $70.00 target price on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $81.00 target price on shares of Restaurant Brands International in a report on Wednesday, February 15th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Restaurant Brands International currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Activity

In other news, CEO Jose E. Cil sold 264,461 shares of Restaurant Brands International stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $65.64, for a total value of $17,359,220.04. Following the completion of the transaction, the chief executive officer now directly owns 187,414 shares in the company, valued at $12,301,854.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Ali Hedayat sold 7,772 shares of Restaurant Brands International stock in a transaction on Monday, May 8th. The stock was sold at an average price of $72.54, for a total value of $563,780.88. Following the completion of the transaction, the director now directly owns 17,677 shares in the company, valued at $1,282,289.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jose E. Cil sold 264,461 shares of Restaurant Brands International stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $65.64, for a total value of $17,359,220.04. Following the sale, the chief executive officer now directly owns 187,414 shares of the company’s stock, valued at approximately $12,301,854.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 321,233 shares of company stock worth $21,431,501. 1.25% of the stock is owned by corporate insiders.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $73.36 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.01 and a quick ratio of 0.93. The business has a fifty day simple moving average of $67.49 and a two-hundred day simple moving average of $66.04. Restaurant Brands International Inc. has a 1 year low of $46.68 and a 1 year high of $74.20. The company has a market capitalization of $22.83 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.73 and a beta of 0.98.

Restaurant Brands International (NYSE:QSR – Get Rating) (TSE:QSR) last released its earnings results on Tuesday, May 2nd. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Restaurant Brands International had a return on equity of 35.70% and a net margin of 15.26%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts expect that Restaurant Brands International Inc. will post 3.06 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Wednesday, June 21st. Restaurant Brands International’s dividend payout ratio (DPR) is presently 67.07%.

Restaurant Brands International Company Profile

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Restaurant Brands International, Inc is a holding company, which engages in the operation of quick service restaurants. It operates through the following segments: Tim Hortons, Burger King, and Popeyes. The Tim Hortons segment provides donut, coffee, and tea restaurant services. The Burger King segment manages fast food hamburger restaurant.