Simplicity Solutions LLC Acquires New Shares in Restaurant Brands International Inc. (NYSE:QSR)

Simplicity Solutions LLC bought a new stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) in the fourth quarter, HoldingsChannel reports. The fund bought 2,956 shares of the restaurant operator’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Restaurant Brands International by 1.8% in the third quarter. Vanguard Group Inc. now owns 11,781,047 shares of the restaurant operator’s stock valued at $784,853,000 after acquiring an additional 203,594 shares during the period. CIBC Asset Management Inc grew its stake in Restaurant Brands International by 5.6% in the third quarter. CIBC Asset Management Inc now owns 4,345,692 shares of the restaurant operator’s stock valued at $290,287,000 after acquiring an additional 228,654 shares during the period. Bank of Nova Scotia grew its stake in Restaurant Brands International by 0.7% in the third quarter. Bank of Nova Scotia now owns 3,235,000 shares of the restaurant operator’s stock valued at $215,429,000 after acquiring an additional 21,544 shares during the period. Fiera Capital Corp grew its stake in Restaurant Brands International by 7.6% in the third quarter. Fiera Capital Corp now owns 2,952,458 shares of the restaurant operator’s stock valued at $197,157,000 after acquiring an additional 207,609 shares during the period. Finally, TD Asset Management Inc grew its stake in Restaurant Brands International by 4.2% in the third quarter. TD Asset Management Inc now owns 2,799,932 shares of the restaurant operator’s stock valued at $187,276,000 after acquiring an additional 113,946 shares during the period. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QSR has been the subject of several recent research reports. Truist Financial reduced their price objective on 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 upped their price objective on Restaurant Brands International from $88.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. TD Cowen reaffirmed a “buy” rating and set a $90.00 price objective on shares of Restaurant Brands International in a research report on Wednesday, April 10th. TD Securities reduced their price objective on 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. Finally, BMO Capital Markets upped their price objective on Restaurant Brands International from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.25.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, insider Jill Granat sold 23,322 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $75.55, for a total transaction of $1,761,977.10. Following the completion of the sale, the insider now owns 406,860 shares in the company, valued at approximately $30,738,273. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jill Granat sold 23,322 shares of Restaurant Brands International stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $75.55, for a total value of $1,761,977.10. Following the sale, the insider now owns 406,860 shares of the company’s stock, valued at approximately $30,738,273. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua Kobza sold 161,353 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $75.57, for a total value of $12,193,446.21. Following the transaction, the chief executive officer now directly owns 578,125 shares of the company’s stock, valued at $43,688,906.25. The disclosure for this sale can be found here. Insiders have sold 380,200 shares of company stock valued at $28,828,182 over the last ninety days. 1.25% of the stock is owned by company insiders.

Restaurant Brands International Trading Up 0.1 %

NYSE:QSR opened at $71.42 on Friday. Restaurant Brands International Inc. has a 12 month low of $61.77 and a 12 month high of $83.29. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.15 and a beta of 0.91. The firm has a fifty day simple moving average of $77.01 and a two-hundred day simple moving average of $73.93.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Tuesday, February 13th. The restaurant operator reported $0.75 EPS for the quarter, beating 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 company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts expect that Restaurant Brands International Inc. will post 3.4 EPS for the current fiscal year.

Restaurant Brands International Increases Dividend

The company also recently disclosed 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 is an increase from Restaurant Brands International’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.32 annualized dividend and a dividend yield of 3.25%. Restaurant Brands International’s payout ratio is currently 61.54%.

Restaurant Brands International 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.