Intact Investment Management Inc. Has $48.72 Million Stock Position in Restaurant Brands International Inc. $QSR

Intact Investment Management Inc. grew its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 759,391 shares of the restaurant operator’s stock after purchasing an additional 72,800 shares during the period. Restaurant Brands International comprises about 1.5% of Intact Investment Management Inc.’s holdings, making the stock its 19th largest position. Intact Investment Management Inc. owned approximately 0.23% of Restaurant Brands International worth $48,722,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Restaurant Brands International by 11.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 78,845 shares of the restaurant operator’s stock valued at $5,355,000 after acquiring an additional 7,988 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Restaurant Brands International in the 2nd quarter valued at $1,090,000. Baupost Group LLC MA boosted its holdings in Restaurant Brands International by 4.2% in the second quarter. Baupost Group LLC MA now owns 4,049,562 shares of the restaurant operator’s stock worth $268,445,000 after purchasing an additional 163,000 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Restaurant Brands International by 6.8% during the second quarter. Envestnet Asset Management Inc. now owns 485,946 shares of the restaurant operator’s stock worth $32,213,000 after buying an additional 30,741 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Restaurant Brands International by 5,463.0% in the second quarter. Rhumbline Advisers now owns 315,256 shares of the restaurant operator’s stock worth $20,898,000 after buying an additional 309,589 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Restaurant Brands International from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Restaurant Brands International in a research report on Tuesday, November 25th. Sanford C. Bernstein restated an “overweight” rating and set a $86.00 target price on shares of Restaurant Brands International in a research note on Wednesday, January 7th. Barclays increased their price target on shares of Restaurant Brands International from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Restaurant Brands International in a research note on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.57.

Insider Activity

In other news, Chairman J Patrick Doyle sold 43,597 shares of Restaurant Brands International stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $69.80, for a total value of $3,043,070.60. Following the sale, the chairman directly owned 193,855 shares in the company, valued at $13,531,079. This trade represents a 18.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Axel Schwan sold 5,860 shares of Restaurant Brands International stock in a transaction on Monday, December 15th. The shares were sold at an average price of $70.87, for a total transaction of $415,298.20. Following the completion of the sale, the insider owned 159,757 shares in the company, valued at $11,321,978.59. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 145,508 shares of company stock worth $10,233,040. 1.25% of the stock is currently owned by insiders.

Restaurant Brands International Stock Performance

QSR stock opened at $68.40 on Monday. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $73.70. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 2.65. The company has a market cap of $23.69 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 2.49 and a beta of 0.59. The business’s fifty day moving average is $69.71 and its 200-day moving average is $67.48.

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

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 23rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, December 23rd. Restaurant Brands International’s dividend payout ratio is 88.26%.

About Restaurant Brands International

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.