Simplicity Wealth LLC reduced its holdings in Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,003 shares of the restaurant operator’s stock after selling 187 shares during the quarter. Simplicity Wealth LLC’s holdings in Restaurant Brands International were worth $211,000, according to the most recent SEC filing.
A number of other hedge funds and other institutional investors have also been buying and selling shares of the company. Capital World Investors increased its stake in shares of Restaurant Brands International by 1.1% in the 1st quarter. Capital World Investors now owns 42,711,485 shares of the restaurant operator’s stock worth $3,393,264,000 after acquiring an additional 466,929 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Restaurant Brands International by 19.8% in the 4th quarter. Capital Research Global Investors now owns 24,012,659 shares of the restaurant operator’s stock worth $1,876,109,000 after acquiring an additional 3,971,774 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Restaurant Brands International by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 12,146,626 shares of the restaurant operator’s stock valued at $965,049,000 after acquiring an additional 141,468 shares in the last quarter. 1832 Asset Management LP increased its stake in shares of Restaurant Brands International by 6.2% in the 1st quarter. 1832 Asset Management LP now owns 4,958,748 shares of the restaurant operator’s stock valued at $393,973,000 after acquiring an additional 290,604 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Restaurant Brands International by 41.0% in the 1st quarter. TD Asset Management Inc now owns 4,847,985 shares of the restaurant operator’s stock valued at $385,361,000 after acquiring an additional 1,409,552 shares in the last quarter. Institutional investors own 82.29% of the company’s shares.
Changes in analyst ratings
Several analysts have recently issued reports on QSR shares. Robert W. Baird raised their price target on shares of Restaurant Brands International from $76.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price target on shares of Restaurant Brands International from $80.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada reiterated their “outperform” rating and set a $90.00 price target on shares of Restaurant Brands International in a research note on Friday. Bank of America raised their price target on shares of Restaurant Brands International from $72.00 to $79.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Finally, Citigroup raised their price target on shares of Restaurant Brands International from $78.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One research analyst rated the stock with a “sell” rating, nine gave a “hold” rating and nineteen gave a “buy” rating to the company. According to data from MarketBeat.com, Restaurant Brands International currently has a consensus rating of “Moderate Buy” and an average price target of $83.22.
Check out our latest report on QSR
International trade in restaurant brands fell by 1.0%
Restaurant Brands International shares opened at $69.81 on Tuesday. Restaurant Brands International Inc. has a 12-month low of $61.77 and a 12-month high of $83.29. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.06 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.00 and a debt-to-equity ratio of 2.72. The company’s 50-day average price is $70.18 and its 200-day average price is $73.47.
Restaurant Brands International announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will receive a dividend of $0.58. This represents an annualized dividend of $2.32 and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s payout ratio is 59.79%.
Profile of Restaurant Brands International
(Free report)
Restaurant Brands International Inc. is 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 operates the TH chain of doughnut/coffee/tea restaurants that offer coffee blends, tea and hot and cold espresso-based specialty beverages, as well as fresh baked goods, including doughnuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups and other food items.
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