Canoe Financial LP Sells 16,708 Shares of Restaurant Brands International Inc. $QSR

Canoe Financial LP lowered its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,523,267 shares of the restaurant operator’s stock after selling 16,708 shares during the quarter. Restaurant Brands International comprises approximately 2.3% of Canoe Financial LP’s portfolio, making the stock its 14th biggest position. Canoe Financial LP owned 0.77% of Restaurant Brands International worth $161,839,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of QSR. Legend Financial Advisors Inc. bought a new position in shares of Restaurant Brands International in the 2nd quarter worth about $33,000. CX Institutional grew its holdings in Restaurant Brands International by 928.0% in the second quarter. CX Institutional now owns 514 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 464 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Restaurant Brands International by 91.2% during the first quarter. Smartleaf Asset Management LLC now owns 545 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Restaurant Brands International during the second quarter valued at approximately $35,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Restaurant Brands International during the second quarter valued at approximately $36,000. Institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

QSR has been the topic of several recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $82.00 price target on shares of Restaurant Brands International in a research note on Tuesday, December 9th. Oppenheimer reissued an “outperform” rating and issued a $80.00 target price on shares of Restaurant Brands International in a research note on Tuesday, November 25th. Scotiabank raised their price target on Restaurant Brands International from $73.00 to $74.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Citigroup upped their price target on shares of Restaurant Brands International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Restaurant Brands International in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $75.45.

Insider Activity at Restaurant Brands International

In other news, Director Ali Hedayat sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $72.77, for a total value of $509,390.00. Following the transaction, the director directly owned 18,962 shares in the company, valued at $1,379,864.74. This trade represents a 26.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Axel Schwan sold 5,860 shares of Restaurant Brands International stock in a transaction on Monday, December 15th. The stock was sold at an average price of $70.87, for a total value of $415,298.20. Following the completion of the sale, the insider directly owned 159,757 shares of the company’s stock, valued at $11,321,978.59. The trade was a 3.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,807 shares of company stock valued at $9,308,973 over the last quarter. 1.25% of the stock is owned by company insiders.

Restaurant Brands International Trading Up 1.3%

Shares of NYSE:QSR opened at $69.74 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.06 and a quick ratio of 0.98. Restaurant Brands International Inc. has a 1 year low of $58.71 and a 1 year high of $73.70. The company has a market cap of $22.87 billion, a P/E ratio of 24.82, a PEG ratio of 2.76 and a beta of 0.60. The stock’s fifty day moving average price is $69.31 and its 200-day moving average price is $67.27.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Thursday, October 30th. The restaurant operator reported $1.03 EPS for the quarter, topping the consensus estimate of $1.00 by $0.03. Restaurant Brands International had a return on equity of 32.43% and a net margin of 9.95%.The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.39 billion. Restaurant Brands International’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.93 EPS. Sell-side analysts expect that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 23rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 23rd. Restaurant Brands International’s payout ratio is presently 88.26%.

Restaurant Brands International Profile

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.