Iridian Asset Management LLC CT Purchases 11,117 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Iridian Asset Management LLC CT lifted its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 21.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,838 shares of the restaurant operator’s stock after purchasing an additional 11,117 shares during the quarter. Restaurant Brands International accounts for 1.0% of Iridian Asset Management LLC CT’s portfolio, making the stock its 29th largest position. Iridian Asset Management LLC CT’s holdings in Restaurant Brands International were worth $4,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Associates Ltd. raised its holdings in shares of Restaurant Brands International by 19.1% during the third quarter. Pinnacle Associates Ltd. now owns 3,735 shares of the restaurant operator’s stock worth $292,000 after acquiring an additional 600 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Restaurant Brands International by 45.1% during the third quarter. First Trust Direct Indexing L.P. now owns 4,414 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 1,373 shares during the period. Galibier Capital Management Ltd. raised its holdings in shares of Restaurant Brands International by 1.3% during the third quarter. Galibier Capital Management Ltd. now owns 359,989 shares of the restaurant operator’s stock worth $26,005,000 after acquiring an additional 4,663 shares during the period. Canoe Financial LP raised its holdings in shares of Restaurant Brands International by 7.4% during the third quarter. Canoe Financial LP now owns 2,028,349 shares of the restaurant operator’s stock worth $144,675,000 after acquiring an additional 139,335 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Restaurant Brands International by 4.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 42,344 shares of the restaurant operator’s stock worth $3,006,000 after acquiring an additional 1,762 shares during the period. 82.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Guggenheim raised their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Citigroup raised their price objective on shares of Restaurant Brands International from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Bank of America lifted their price target on shares of Restaurant Brands International from $76.00 to $77.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. Morgan Stanley lowered their price target on shares of Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, Truist Financial lowered their price target on shares of Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.15.

Restaurant Brands International Stock Performance

Shares of QSR stock opened at $70.10 on Thursday. The company has a market capitalization of $22.21 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.12 and a beta of 0.94. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.71 and a current ratio of 0.78. The company has a 50-day simple moving average of $70.31 and a 200 day simple moving average of $70.60. Restaurant Brands International Inc. has a 52 week low of $65.51 and a 52 week high of $83.29.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, topping the consensus estimate of $0.85 by $0.01. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. On average, sell-side analysts predict that Restaurant Brands International Inc. will post 3.37 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, September 20th. Restaurant Brands International’s payout ratio is 59.79%.

Insider Buying and Selling at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 37,179 shares of the company’s stock, valued at $2,551,594.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

About Restaurant Brands International

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.