Novare Capital Management LLC Has $5.06 Million Stake in Restaurant Brands International Inc. (NYSE:QSR)

Novare Capital Management LLC reduced its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 16.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 77,577 shares of the restaurant operator’s stock after selling 15,805 shares during the quarter. Novare Capital Management LLC’s holdings in Restaurant Brands International were worth $5,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of QSR. Fiera Capital Corp increased its stake in Restaurant Brands International by 6.5% during the 3rd quarter. Fiera Capital Corp now owns 3,744,620 shares of the restaurant operator’s stock worth $270,554,000 after purchasing an additional 227,203 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Restaurant Brands International by 68.6% in the third quarter. National Bank of Canada FI now owns 3,181,459 shares of the restaurant operator’s stock valued at $229,545,000 after buying an additional 1,294,185 shares during the period. CIBC Asset Management Inc increased its position in shares of Restaurant Brands International by 4.2% during the third quarter. CIBC Asset Management Inc now owns 2,969,582 shares of the restaurant operator’s stock worth $215,448,000 after acquiring an additional 118,721 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Restaurant Brands International by 16.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,207,251 shares of the restaurant operator’s stock worth $159,251,000 after acquiring an additional 307,791 shares during the period. Finally, Canoe Financial LP lifted its position in Restaurant Brands International by 7.4% in the 3rd quarter. Canoe Financial LP now owns 2,028,349 shares of the restaurant operator’s stock valued at $144,675,000 after acquiring an additional 139,335 shares in the last quarter. 82.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jill Granat sold 81,387 shares of Restaurant Brands International stock in a transaction on Friday, December 6th. The shares were sold at an average price of $69.37, for a total value of $5,645,816.19. Following the completion of the sale, the insider now owns 388,759 shares in the company, valued at $26,968,211.83. The trade was a 17.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joshua Kobza sold 12,420 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $64.20, for a total transaction of $797,364.00. Following the transaction, the chief executive officer now directly owns 703,445 shares in the company, valued at approximately $45,161,169. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,510 shares of company stock worth $7,774,020. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on QSR. Citigroup boosted their price objective on shares of Restaurant Brands International from $75.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Bank of America lifted their price objective on shares of Restaurant Brands International from $76.00 to $77.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Evercore ISI lowered their target price on Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. KeyCorp cut their price objective on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their price target on Restaurant Brands International from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.96.

Restaurant Brands International Stock Up 0.9 %

Shares of QSR opened at $62.09 on Friday. Restaurant Brands International Inc. has a 12 month low of $59.85 and a 12 month high of $83.29. 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 company has a market capitalization of $20.14 billion, a PE ratio of 15.56, a PEG ratio of 2.04 and a beta of 0.94. The stock’s 50-day moving average price is $66.06 and its two-hundred day moving average price is $68.83.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Friday, December 20th. Restaurant Brands International’s dividend payout ratio is presently 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.