Bank of Nova Scotia Has $67.33 Million Position in Restaurant Brands International Inc. $QSR

Bank of Nova Scotia lessened its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 19.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,048,830 shares of the restaurant operator’s stock after selling 253,192 shares during the period. Bank of Nova Scotia owned 0.32% of Restaurant Brands International worth $67,332,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Baupost Group LLC MA raised its holdings in Restaurant Brands International by 103.8% during the 3rd quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator’s stock worth $529,337,000 after purchasing an additional 4,203,300 shares during the last quarter. Norges Bank bought a new position in shares of Restaurant Brands International during the second quarter worth $254,948,000. State Street Corp grew its stake in Restaurant Brands International by 9,477.4% in the second quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator’s stock valued at $198,711,000 after acquiring an additional 2,966,048 shares during the period. Geode Capital Management LLC grew its position in shares of Restaurant Brands International by 112.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,296,050 shares of the restaurant operator’s stock valued at $286,172,000 after purchasing an additional 2,277,694 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Restaurant Brands International by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,303,726 shares of the restaurant operator’s stock worth $1,015,137,000 after purchasing an additional 1,134,665 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Restaurant Brands International news, insider Jacqueline Friesner sold 4,617 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 $311,693.67. Following the completion of the transaction, the insider owned 194,201 shares in the company, valued at $13,110,509.51. This trade represents a 2.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Duncan Fulton sold 10,308 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $695,893.08. Following the completion of the transaction, the insider directly owned 49,677 shares of the company’s stock, valued at approximately $3,353,694.27. The trade was a 17.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 105,191 shares of company stock worth $7,100,556 in the last three months. Insiders own 1.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QSR shares. Barclays lowered their price objective on shares of Restaurant Brands International from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Morgan Stanley lifted their price objective on shares of Restaurant Brands International from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Restaurant Brands International in a report on Thursday, January 22nd. Piper Sandler upgraded shares of Restaurant Brands International from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $71.00 to $84.00 in a research report on Monday, March 2nd. Finally, Wells Fargo & Company lifted their target price on Restaurant Brands International from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.95.

Restaurant Brands International Trading Up 0.8%

Shares of Restaurant Brands International stock opened at $72.65 on Monday. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $74.42. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $25.17 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 2.06 and a beta of 0.56. The stock has a fifty day simple moving average of $69.29 and a 200 day simple moving average of $68.14.

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

Restaurant Brands International Increases Dividend

The business also recently disclosed 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 positive change from Restaurant Brands International’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, March 19th. Restaurant Brands International’s payout ratio is presently 105.08%.

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.