BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stock Position in Restaurant Brands International Inc. (NYSE:QSR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 76.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 101,927 shares of the restaurant operator’s stock after selling 331,258 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Restaurant Brands International were worth $7,354,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Restaurant Brands International by 212.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 119,798 shares of the restaurant operator’s stock worth $8,654,000 after buying an additional 81,482 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Restaurant Brands International by 8.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 232,216 shares of the restaurant operator’s stock valued at $16,748,000 after purchasing an additional 18,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Restaurant Brands International by 2.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 137,789 shares of the restaurant operator’s stock valued at $9,954,000 after purchasing an additional 3,167 shares in the last quarter. FORA Capital LLC purchased a new stake in Restaurant Brands International in the third quarter worth $2,432,000. Finally, Baupost Group LLC MA purchased a new position in Restaurant Brands International during the third quarter valued at $2,041,000. Institutional investors own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

QSR has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Evercore ISI lowered their target price on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus cut their price target on Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, November 14th. Bank of America lifted their price objective on Restaurant Brands International from $76.00 to $77.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reduced their price target on Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Restaurant Brands International Stock Performance

Shares of NYSE QSR opened at $69.61 on Monday. Restaurant Brands International Inc. has a 12-month low of $65.87 and a 12-month high of $83.29. The firm has a market capitalization of $22.53 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75. The firm has a 50 day moving average of $70.22 and a 200 day moving average of $69.94.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s dividend payout ratio is presently 58.15%.

Insider Buying and Selling

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the completion of the sale, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. This trade represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is currently owned by insiders.

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.