Northwest & Ethical Investments L.P. Sells 3,510 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Northwest & Ethical Investments L.P. lessened its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 4.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,200 shares of the restaurant operator’s stock after selling 3,510 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Restaurant Brands International were worth $5,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. EdgePoint Investment Group Inc. increased its stake in Restaurant Brands International by 4.9% in the second quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock valued at $811,907,000 after acquiring an additional 536,124 shares during the period. 1832 Asset Management L.P. boosted its holdings in Restaurant Brands International by 15.6% during the second quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after purchasing an additional 773,783 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Restaurant Brands International by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock valued at $390,678,000 after purchasing an additional 518,795 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Restaurant Brands International by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,144,430 shares of the restaurant operator’s stock valued at $291,615,000 after purchasing an additional 169,458 shares during the period. Finally, Fiera Capital Corp raised its holdings in shares of Restaurant Brands International by 6.5% in the 3rd quarter. Fiera Capital Corp now owns 3,744,620 shares of the restaurant operator’s stock worth $270,554,000 after buying an additional 227,203 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Insider Buying and Selling

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s 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 transaction, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. The trade was a 14.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QSR has been the topic of several recent analyst reports. Bank of America boosted their price target 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. Truist Financial reduced their target price 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. Evercore ISI lowered their target price on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. KeyCorp cut their price target 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, JPMorgan Chase & Co. upped their price objective on shares of Restaurant Brands International from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Restaurant Brands International presently has an average rating of “Moderate Buy” and an average price target of $82.37.

Restaurant Brands International Price Performance

Shares of QSR stock opened at $70.18 on Friday. The firm’s 50 day moving average price is $70.23 and its two-hundred day moving average price is $69.98. 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 52-week low of $65.87 and a 52-week high of $83.29. The stock has a market cap of $22.72 billion, a PE ratio of 17.59, a PEG ratio of 2.27 and a beta of 0.94.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a dividend of $0.58 per share. The ex-dividend date is Friday, December 20th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.31%. Restaurant Brands International’s dividend payout ratio (DPR) 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.