Fmr LLC Decreases Stake in Restaurant Brands International Inc. (NYSE:QSR)

Fmr LLC reduced its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,736,439 shares of the restaurant operator’s stock after selling 1,179,885 shares during the period. Fmr LLC owned approximately 2.39% of Restaurant Brands International worth $558,246,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Restaurant Brands International by 4.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,158 shares of the restaurant operator’s stock worth $293,000 after buying an additional 160 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Restaurant Brands International by 79.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 418 shares of the restaurant operator’s stock worth $30,000 after buying an additional 185 shares during the last quarter. Arvest Investments Inc. raised its stake in shares of Restaurant Brands International by 1.1% during the 3rd quarter. Arvest Investments Inc. now owns 18,450 shares of the restaurant operator’s stock worth $1,331,000 after buying an additional 197 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Restaurant Brands International by 1.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 28,401 shares of the restaurant operator’s stock worth $1,999,000 after buying an additional 300 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Restaurant Brands International by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,683 shares of the restaurant operator’s stock worth $330,000 after buying an additional 352 shares during the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on QSR. Wells Fargo & Company cut their price target on Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. CIBC cut their price target on 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. Piper Sandler cut their target price on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada cut their target price on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Truist Financial cut their target price on shares of Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.37.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s 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 owns 37,179 shares in the company, valued at $2,551,594.77. This represents a 14.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Restaurant Brands International Stock Up 1.4 %

Shares of NYSE:QSR opened at $70.18 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.94 and a current ratio of 1.02. Restaurant Brands International Inc. has a 1 year low of $65.87 and a 1 year high of $83.29. The stock has a market capitalization of $22.72 billion, a P/E ratio of 17.59, a PEG ratio of 2.27 and a beta of 0.94. The stock has a 50-day simple moving average of $70.23 and a 200-day simple moving average of $69.98.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s payout ratio is currently 58.15%.

Restaurant Brands International Company 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.