Connor Clark & Lunn Investment Management Ltd. Raises Position in Restaurant Brands International Inc. (NYSE:QSR)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 16.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,207,251 shares of the restaurant operator’s stock after buying an additional 307,791 shares during the period. Restaurant Brands International comprises about 0.8% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 27th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Restaurant Brands International were worth $159,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in QSR. Cetera Investment Advisers boosted its holdings in shares of Restaurant Brands International by 63.7% during the 1st quarter. Cetera Investment Advisers now owns 40,837 shares of the restaurant operator’s stock valued at $3,245,000 after buying an additional 15,891 shares in the last quarter. Sumitomo Life Insurance Co. bought a new position in Restaurant Brands International in the second quarter worth approximately $666,000. Dimensional Fund Advisors LP lifted its position in Restaurant Brands International by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 650,486 shares of the restaurant operator’s stock valued at $45,772,000 after purchasing an additional 10,855 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Restaurant Brands International by 183.6% during the 1st quarter. Bessemer Group Inc. now owns 9,273 shares of the restaurant operator’s stock valued at $736,000 after buying an additional 6,003 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Restaurant Brands International by 42.0% during the 2nd quarter. Raymond James & Associates now owns 77,669 shares of the restaurant operator’s stock valued at $5,466,000 after purchasing an additional 22,981 shares during the period. Institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Stock Up 0.8 %

Shares of Restaurant Brands International stock opened at $69.45 on Wednesday. Restaurant Brands International Inc. has a 1-year low of $65.87 and a 1-year high of $83.29. The company has a market capitalization of $22.48 billion, a P/E ratio of 17.41, a PEG ratio of 2.20 and a beta of 0.94. The business’s fifty day moving average price is $70.21 and its two-hundred day moving average price is $70.14. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.02 and a quick ratio of 0.94.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.34%. Restaurant Brands International’s dividend payout ratio (DPR) is 58.15%.

Insider Buying and Selling at Restaurant Brands International

In related news, insider Axel Mr Schwan sold 36,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $70.44, for a total value of $2,535,840.00. Following the transaction, the insider now directly owns 97,479 shares in the company, valued at approximately $6,866,420.76. This trade represents a 26.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the completion of the transaction, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. This represents a 14.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on QSR shares. Citigroup lifted their price target on shares of Restaurant Brands International from $75.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Evercore ISI cut their price objective on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. CIBC lowered their target price on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company cut their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Argus cut their price objective on Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.37.

Restaurant Brands International Profile

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.