Restaurant Brands International Inc (QSR) Shares Sold by Twin Tree Management LP
Twin Tree Management LP cut its holdings in Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 59.1% in the third quarter, Holdings Channel reports. The institutional investor owned 24,612 shares of the restaurant operator’s stock after selling 35,518 shares during the quarter. Twin Tree Management LP’s holdings in Restaurant Brands International were worth $1,459,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC purchased a new stake in Restaurant Brands International in the second quarter valued at about $644,000. Addenda Capital Inc. raised its stake in Restaurant Brands International by 36.5% in the third quarter. Addenda Capital Inc. now owns 460,426 shares of the restaurant operator’s stock valued at $27,417,000 after buying an additional 123,232 shares during the last quarter. Wells Fargo & Company MN raised its stake in Restaurant Brands International by 18.2% in the second quarter. Wells Fargo & Company MN now owns 413,419 shares of the restaurant operator’s stock valued at $24,930,000 after buying an additional 63,540 shares during the last quarter. TD Asset Management Inc. raised its stake in Restaurant Brands International by 5.8% in the third quarter. TD Asset Management Inc. now owns 4,239,685 shares of the restaurant operator’s stock valued at $250,863,000 after buying an additional 232,606 shares during the last quarter. Finally, Highstreet Asset Management Inc. raised its stake in Restaurant Brands International by 330.3% in the second quarter. Highstreet Asset Management Inc. now owns 531,411 shares of the restaurant operator’s stock valued at $32,055,000 after buying an additional 407,908 shares during the last quarter. Institutional investors own 79.23% of the company’s stock.
A number of research firms have commented on QSR. Zacks Investment Research reiterated a “sell” rating on shares of Restaurant Brands International in a research note on Wednesday, November 14th. Wells Fargo & Co reissued a “market perform” rating and issued a $70.00 price objective (up from $61.00) on shares of Restaurant Brands International in a report on Wednesday, July 25th. Citigroup cut their price objective on Restaurant Brands International from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. ValuEngine raised Restaurant Brands International from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Finally, UBS Group set a $74.00 price objective on Restaurant Brands International and gave the company a “buy” rating in a report on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Restaurant Brands International has a consensus rating of “Buy” and a consensus target price of $69.80.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Wednesday, October 24th. The restaurant operator reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. Restaurant Brands International had a net margin of 12.76% and a return on equity of 28.42%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. Research analysts anticipate that Restaurant Brands International Inc will post 2.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Monday, December 17th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, December 14th. Restaurant Brands International’s dividend payout ratio (DPR) is 85.71%.
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Restaurant Brands International Profile
Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.
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