Restaurant Brands International (QSR) Stock Price Up 3.5%
Restaurant Brands International (NYSE:QSR) rose 3.5% during mid-day trading on Monday . The stock traded as high as $43.42 and last traded at $43.17, with a volume of 1,525,247 shares changing hands. The stock had previously closed at $41.72.
QSR has been the subject of several research reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Restaurant Brands International in a report on Saturday, April 30th. Morgan Stanley lowered Restaurant Brands International from an “overweight” rating to an “equal weight” rating and set a $43.00 price target for the company. in a report on Friday, April 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded Restaurant Brands International from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 20th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Restaurant Brands International in a report on Saturday, April 30th. Finally, Longbow Research reiterated a “neutral” rating on shares of Restaurant Brands International in a report on Wednesday, April 27th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.00.
The company has a 50-day moving average price of $41.90 and a 200 day moving average price of $38.38. The firm has a market capitalization of $10.11 billion and a P/E ratio of 57.99.
Restaurant Brands International (NYSE:QSR) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. During the same quarter in the previous year, the business posted $0.18 earnings per share. The firm had revenue of $918.50 million for the quarter, compared to the consensus estimate of $931.04 million. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that Restaurant Brands International will post $1.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Monday, May 16th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.14.
In related news, Director Marc Caira sold 100,000 shares of the stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $43.02, for a total transaction of $4,302,000.00. Following the completion of the transaction, the director now directly owns 121,513 shares in the company, valued at $5,227,489.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Restaurant Brands International by 28.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 168,759 shares of the company’s stock worth $6,304,000 after buying an additional 36,958 shares in the last quarter. I.G. Investment Management LTD. increased its position in Restaurant Brands International by 15.7% in the fourth quarter. I.G. Investment Management LTD. now owns 1,648,756 shares of the company’s stock worth $61,695,000 after buying an additional 223,848 shares in the last quarter. Marshall Wace LLP increased its position in Restaurant Brands International by 1,782.0% in the fourth quarter. Marshall Wace LLP now owns 480,417 shares of the company’s stock worth $17,948,000 after buying an additional 454,890 shares in the last quarter. Garnet Equity Capital Holdings Inc. increased its position in Restaurant Brands International by 47.1% in the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 125,000 shares of the company’s stock worth $4,670,000 after buying an additional 40,000 shares in the last quarter. Finally, EdgePoint Investment Group Inc. increased its position in Restaurant Brands International by 3.4% in the fourth quarter. EdgePoint Investment Group Inc. now owns 1,203,348 shares of the company’s stock worth $45,005,000 after buying an additional 40,000 shares in the last quarter.
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company operates approximately 19,000 restaurants in over 100 countries and the United States territories. Its Burger King (BK) and Tim Hortons (TH) brands have similar franchised business models. The Company operates through two segments: TH, which includes all operations of its Tim Hortons brand and BK, which includes all operations of its Burger King brand.
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