Cidel Asset Management Inc. Decreases Stock Position in Restaurant Brands International Inc. $QSR

Cidel Asset Management Inc. cut its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 43.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,561 shares of the restaurant operator’s stock after selling 301,568 shares during the quarter. Restaurant Brands International accounts for approximately 1.9% of Cidel Asset Management Inc.’s holdings, making the stock its 16th largest position. Cidel Asset Management Inc. owned approximately 0.11% of Restaurant Brands International worth $26,412,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QSR. Legacy Wealth Asset Management LLC raised its stake in shares of Restaurant Brands International by 2.0% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 8,029 shares of the restaurant operator’s stock worth $548,000 after purchasing an additional 161 shares during the last quarter. ASR Vermogensbeheer N.V. boosted its position in shares of Restaurant Brands International by 1.6% during the third quarter. ASR Vermogensbeheer N.V. now owns 13,583 shares of the restaurant operator’s stock valued at $872,000 after buying an additional 219 shares during the last quarter. Cresset Asset Management LLC increased its holdings in Restaurant Brands International by 4.4% in the 3rd quarter. Cresset Asset Management LLC now owns 5,336 shares of the restaurant operator’s stock worth $346,000 after buying an additional 225 shares in the last quarter. Metis Global Partners LLC increased its holdings in Restaurant Brands International by 1.7% in the 3rd quarter. Metis Global Partners LLC now owns 13,496 shares of the restaurant operator’s stock worth $866,000 after buying an additional 226 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Restaurant Brands International by 3.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,055 shares of the restaurant operator’s stock worth $517,000 after buying an additional 258 shares during the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Restaurant Brands International news, CFO Sami A. Siddiqui sold 40,000 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $74.51, for a total transaction of $2,980,400.00. Following the completion of the sale, the chief financial officer owned 35,766 shares of the company’s stock, valued at approximately $2,664,924.66. The trade was a 52.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Housman sold 20,000 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $73.48, for a total value of $1,469,600.00. Following the completion of the sale, the insider owned 162,077 shares of the company’s stock, valued at approximately $11,909,417.96. The trade was a 10.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 455,191 shares of company stock worth $33,299,206. Company insiders own 1.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on QSR shares. Oppenheimer raised their price target on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. Royal Bank Of Canada boosted their price objective on shares of Restaurant Brands International from $80.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Truist Financial increased their price objective on shares of Restaurant Brands International from $83.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Scotiabank dropped their target price on shares of Restaurant Brands International from $74.00 to $71.00 and set a “sector perform” rating on the stock in a report on Friday, February 13th. Finally, BMO Capital Markets cut their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Restaurant Brands International has a consensus rating of “Moderate Buy” and a consensus price target of $79.19.

Restaurant Brands International Price Performance

NYSE QSR opened at $76.71 on Monday. The company has a 50-day moving average price of $71.02 and a 200-day moving average price of $69.34. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $77.18. 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 firm has a market capitalization of $26.63 billion, a P/E ratio of 32.50, a PEG ratio of 2.18 and a beta of 0.51.

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

Restaurant Brands International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, March 19th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, March 19th. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.62. Restaurant Brands International’s payout ratio is presently 110.17%.

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.