ING Groep NV Decreases Position in Restaurant Brands International Inc. (NYSE:QSR)
ING Groep NV reduced its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 54.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,100 shares of the restaurant operator’s stock after selling 6,100 shares during the period. ING Groep NV’s holdings in Restaurant Brands International were worth $319,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in QSR. Alliancebernstein L.P. increased its position in Restaurant Brands International by 937.3% in the first quarter. Alliancebernstein L.P. now owns 1,181,675 shares of the restaurant operator’s stock valued at $65,867,000 after buying an additional 1,067,761 shares in the last quarter. FMR LLC increased its position in Restaurant Brands International by 7.6% in the first quarter. FMR LLC now owns 13,964,143 shares of the restaurant operator’s stock valued at $777,880,000 after buying an additional 989,549 shares in the last quarter. Think Investments LP purchased a new position in Restaurant Brands International during the first quarter valued at $17,954,000. Principal Financial Group Inc. increased its position in Restaurant Brands International by 4.0% in the first quarter. Principal Financial Group Inc. now owns 8,364,353 shares of the restaurant operator’s stock valued at $466,229,000 after buying an additional 321,262 shares in the last quarter. Finally, Columbus Circle Investors purchased a new position in Restaurant Brands International during the first quarter valued at $16,140,000. 75.54% of the stock is owned by institutional investors.
Restaurant Brands International Inc. (QSR) traded down 0.783% during midday trading on Thursday, reaching $60.225. The company had a trading volume of 490,743 shares. The firm has a market capitalization of $14.23 billion, a PE ratio of 42.145 and a beta of 1.77. The firm’s 50-day moving average price is $61.41 and its 200 day moving average price is $57.36. Restaurant Brands International Inc. has a 12 month low of $42.35 and a 12 month high of $62.94.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $0.41 EPS. Restaurant Brands International’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts anticipate that Restaurant Brands International Inc. will post $1.89 earnings per share for the current fiscal year.
Restaurant Brands International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.19. Restaurant Brands International’s dividend payout ratio (DPR) is 52.78%.
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QSR has been the subject of several research reports. Zacks Investment Research downgraded Restaurant Brands International from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 19th. Cowen and Company lifted their target price on Restaurant Brands International from $52.00 to $54.00 and gave the company a “market perform” rating in a research report on Friday, April 28th. Scotiabank reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Restaurant Brands International in a research report on Tuesday, April 25th. CIBC raised 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 report on Wednesday, June 14th. Finally, Nomura started coverage on Restaurant Brands International in a research report on Wednesday, July 12th. They set a “buy” rating and a $73.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.63.
In other Restaurant Brands International news, EVP Jose E. Cil sold 105,540 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was 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 owns 58,644 shares in the company, valued at approximately $3,510,429.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jose E. Cil sold 1,760 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $59.75, for a total value of $105,160.00. Following the sale, the executive vice president now owns 22,855 shares of the company’s stock, valued at approximately $1,365,586.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,000 shares of company stock valued at $14,849,219. 4.20% of the stock is owned by insiders.
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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