Cadence Bank Raises Stock Holdings in Restaurant Brands International Inc. $QSR

Cadence Bank boosted its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 35.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,637 shares of the restaurant operator’s stock after purchasing an additional 39,036 shares during the quarter. Cadence Bank’s holdings in Restaurant Brands International were worth $9,662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Steigerwald Gordon & Koch Inc. purchased a new stake in Restaurant Brands International in the third quarter worth about $29,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Restaurant Brands International in the 2nd quarter worth approximately $35,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Restaurant Brands International in the 2nd quarter worth approximately $36,000. Exchange Traded Concepts LLC bought a new position in Restaurant Brands International during the 3rd quarter valued at approximately $48,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Restaurant Brands International by 41.0% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,032 shares of the restaurant operator’s stock valued at $66,000 after buying an additional 300 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

Insider Buying and Selling at Restaurant Brands International

In other Restaurant Brands International news, insider Thiago T. Santelmo sold 5,686 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $67.51, for a total value of $383,861.86. Following the transaction, the insider directly owned 74,067 shares of the company’s stock, valued at approximately $5,000,263.17. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Granat sold 11,525 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $67.51, for a total value of $778,052.75. Following the sale, the insider owned 476,126 shares of the company’s stock, valued at approximately $32,143,266.26. This represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 186,401 shares of company stock worth $12,857,069. 1.25% of the stock is owned by corporate insiders.

Restaurant Brands International Price Performance

NYSE QSR opened at $72.65 on Friday. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $74.42. The stock has a 50-day moving average of $69.29 and a 200 day moving average of $68.06. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.91 and a current ratio of 0.98. The company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 2.05 and a beta of 0.56.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its earnings results on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Restaurant Brands International had a net margin of 8.23% and a return on equity of 32.51%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, March 19th will be given a $0.65 dividend. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. Restaurant Brands International’s payout ratio is presently 105.08%.

Analyst Ratings Changes

QSR has been the topic of several analyst reports. BMO Capital Markets dropped their target price on Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Stifel Nicolaus upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a research note on Monday, March 2nd. Royal Bank Of Canada increased their price objective on shares of Restaurant Brands International from $80.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Morgan Stanley raised their price objective on shares of Restaurant Brands International from $77.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Piper Sandler raised shares of Restaurant Brands International from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $71.00 to $84.00 in a report on Monday, March 2nd. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.95.

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.