Burgundy Asset Management Ltd. Acquires 156,189 Shares of Restaurant Brands International Inc. $QSR

Burgundy Asset Management Ltd. grew its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 9.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,742,299 shares of the restaurant operator’s stock after buying an additional 156,189 shares during the period. Burgundy Asset Management Ltd.’s holdings in Restaurant Brands International were worth $110,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Restaurant Brands International in the 2nd quarter worth $254,948,000. State Street Corp lifted its position in Restaurant Brands International by 9,477.4% during the second quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator’s stock valued at $198,711,000 after purchasing an additional 2,966,048 shares in the last quarter. Geode Capital Management LLC grew its holdings in Restaurant Brands International by 112.8% during the second quarter. Geode Capital Management LLC now owns 4,296,050 shares of the restaurant operator’s stock valued at $286,172,000 after purchasing an additional 2,277,694 shares during the period. Vanguard Group Inc. increased its position in Restaurant Brands International by 8.0% in the second quarter. Vanguard Group Inc. now owns 15,303,726 shares of the restaurant operator’s stock worth $1,015,137,000 after buying an additional 1,134,665 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Restaurant Brands International by 56.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,855,081 shares of the restaurant operator’s stock worth $189,510,000 after buying an additional 1,029,500 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Trading Down 1.0%

Shares of Restaurant Brands International stock opened at $71.41 on Thursday. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $73.70. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The business has a 50-day moving average price of $68.72 and a 200-day moving average price of $67.67. The firm has a market cap of $24.74 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 2.05 and a beta of 0.56.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, February 12th. The restaurant operator reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.41 billion. Restaurant Brands International had a return on equity of 32.51% and a net margin of 8.23%.The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. Equities research analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, March 19th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, March 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.62. Restaurant Brands International’s dividend payout ratio is currently 105.08%.

Insider Transactions at Restaurant Brands International

In related news, insider Jill Granat sold 11,525 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total value of $778,052.75. Following the sale, the insider owned 476,126 shares in the company, valued at approximately $32,143,266.26. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sami A. Siddiqui sold 12,828 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $866,018.28. Following the transaction, the chief financial officer owned 31,923 shares of the company’s stock, valued at $2,155,121.73. This trade represents a 28.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 186,401 shares of company stock valued at $12,857,069 in the last 90 days. Company insiders own 1.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QSR shares. Morgan Stanley boosted their price objective on Restaurant Brands International from $77.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday. Truist Financial upped their price target on shares of Restaurant Brands International from $83.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada increased their price objective on shares of Restaurant Brands International from $80.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Restaurant Brands International in a research report on Thursday, January 22nd. Finally, Scotiabank dropped their target price on shares of Restaurant Brands International from $74.00 to $71.00 and set a “sector perform” rating for the company in a report on Friday, February 13th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.95.

Restaurant Brands International Profile

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.