Canoe Financial LP Sells 33,714 Shares of Restaurant Brands International Inc. $QSR

Canoe Financial LP lowered its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,489,553 shares of the restaurant operator’s stock after selling 33,714 shares during the period. Restaurant Brands International comprises 2.3% of Canoe Financial LP’s holdings, making the stock its 12th largest position. Canoe Financial LP owned approximately 0.76% of Restaurant Brands International worth $169,889,000 as of its most recent SEC filing.

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

Restaurant Brands International Price Performance

QSR opened at $71.48 on Friday. The firm has a 50-day moving average price of $70.33 and a 200-day moving average price of $68.88. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $75.67. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $24.81 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.03 and a beta of 0.56.

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

Restaurant Brands International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, March 19th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Restaurant Brands International’s dividend payout ratio is 110.17%.

Insider Transactions at Restaurant Brands International

In related news, insider Jacqueline Friesner sold 30,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $74.61, for a total transaction of $2,238,300.00. Following the sale, the insider owned 165,727 shares of the company’s stock, valued at approximately $12,364,891.47. This represents a 15.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joshua Kobza sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $75.05, for a total value of $15,010,000.00. Following the completion of the transaction, the chief executive officer owned 960,769 shares of the company’s stock, valued at approximately $72,105,713.45. This represents a 17.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 455,191 shares of company stock valued at $33,299,206. 1.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on QSR. Guggenheim boosted their target price on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Citigroup lowered their price target on shares of Restaurant Brands International from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Truist Financial upped their price objective on Restaurant Brands International from $83.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Piper Sandler raised Restaurant Brands International from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $71.00 to $84.00 in a report on Monday, March 2nd. Finally, Barclays decreased their target price on Restaurant Brands International from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.19.

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.