Seven Bridges Advisors LLC Increases Position in Restaurant Brands International Inc. (QSR)
Seven Bridges Advisors LLC raised its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 38.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,387 shares of the restaurant operator’s stock after buying an additional 4,539 shares during the period. Seven Bridges Advisors LLC’s holdings in Restaurant Brands International were worth $1,025,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Restaurant Brands International by 21.9% in the first quarter. IFP Advisors Inc now owns 1,817 shares of the restaurant operator’s stock valued at $101,000 after buying an additional 327 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of Restaurant Brands International by 1,037.1% in the first quarter. Westpac Banking Corp now owns 1,933 shares of the restaurant operator’s stock valued at $108,000 after buying an additional 1,763 shares in the last quarter. Creative Planning boosted its stake in shares of Restaurant Brands International by 5.4% in the first quarter. Creative Planning now owns 2,101 shares of the restaurant operator’s stock valued at $117,000 after buying an additional 108 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Restaurant Brands International by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after buying an additional 306 shares in the last quarter. Finally, CI Global Investments Inc. acquired a new stake in shares of Restaurant Brands International during the first quarter valued at about $183,000. 75.54% of the stock is owned by institutional investors.
Shares of Restaurant Brands International Inc. (NYSE:QSR) opened at 62.16 on Tuesday. The stock has a market cap of $14.69 billion, a PE ratio of 43.50 and a beta of 1.77. The stock has a 50 day moving average of $61.24 and a 200 day moving average of $56.95. Restaurant Brands International Inc. has a 1-year low of $42.35 and a 1-year high of $62.94.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. Equities research analysts forecast that Restaurant Brands International Inc. will post $1.89 EPS for the current year.
Restaurant Brands International announced that its board has initiated a share repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Restaurant Brands International’s payout ratio is 52.78%.
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Several analysts recently issued reports on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $66.00 price objective on shares of Restaurant Brands International in a research note on Tuesday, June 6th. CIBC raised shares of Restaurant Brands International from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Wednesday, June 14th. Scotiabank reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Restaurant Brands International in a research note on Tuesday, April 25th. UBS AG upped their price objective on shares of Restaurant Brands International from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Finally, OTR Global reaffirmed a “positive” rating on shares of Restaurant Brands International in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $63.63.
In other news, EVP Jose E. Cil sold 105,540 shares of Restaurant Brands International stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $59.86, for a total transaction of $6,317,624.40. Following the completion of the sale, the executive vice president now directly owns 58,644 shares in the company, valued at $3,510,429.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ali Hedayat purchased 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were purchased at an average price of $61.32 per share, with a total value of $306,600.00. Following the completion of the acquisition, the director now owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 250,000 shares of company stock valued at $14,849,219. Insiders own 4.20% of the company’s stock.
Restaurant Brands International Company Profile
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.
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