Picton Mahoney Asset Management Decreases Position in Restaurant Brands International Inc. $QSR

Picton Mahoney Asset Management decreased its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 96.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,428 shares of the restaurant operator’s stock after selling 278,083 shares during the period. Picton Mahoney Asset Management’s holdings in Restaurant Brands International were worth $733,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. grew its position in shares of Restaurant Brands International by 10.6% in the third quarter. Intact Investment Management Inc. now owns 759,391 shares of the restaurant operator’s stock valued at $48,722,000 after purchasing an additional 72,800 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Restaurant Brands International by 23,154.1% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 39,532 shares of the restaurant operator’s stock worth $2,535,000 after purchasing an additional 39,362 shares during the last quarter. Machina Capital S.A.S. acquired a new position in shares of Restaurant Brands International during the 3rd quarter worth approximately $1,214,000. New York State Common Retirement Fund lifted its stake in Restaurant Brands International by 51.4% in the 3rd quarter. New York State Common Retirement Fund now owns 196,100 shares of the restaurant operator’s stock valued at $12,578,000 after buying an additional 66,600 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its stake in Restaurant Brands International by 2.8% in the 3rd quarter. Cidel Asset Management Inc. now owns 688,129 shares of the restaurant operator’s stock valued at $44,154,000 after buying an additional 18,446 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, insider Duncan Fulton sold 10,308 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $67.51, for a total value of $695,893.08. Following the sale, the insider directly owned 49,677 shares of the company’s stock, valued at approximately $3,353,694.27. This trade represents a 17.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jill Granat sold 11,525 shares of Restaurant Brands International stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $67.51, for a total value of $778,052.75. Following the completion of the sale, the insider owned 476,126 shares of the company’s stock, valued at $32,143,266.26. This trade represents a 2.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 186,401 shares of company stock worth $12,857,069 in the last quarter. 1.25% of the stock is currently owned by corporate insiders.

Restaurant Brands International Trading Up 1.0%

Shares of QSR opened at $74.06 on Friday. The stock has a fifty day moving average of $68.88 and a two-hundred day moving average of $67.78. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.91 and a current ratio of 0.98. The company has a market capitalization of $25.66 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. Restaurant Brands International Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $74.42.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Restaurant Brands International had a return on equity of 32.51% and a net margin of 8.23%.The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.41 billion. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, March 19th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.5%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, March 19th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 105.08%.

Analyst Ratings Changes

Several equities analysts have weighed in on QSR shares. Scotiabank dropped their price target on Restaurant Brands International from $74.00 to $71.00 and set a “sector perform” rating for the company in a research report on Friday, February 13th. Sanford C. Bernstein set a $82.00 price objective on Restaurant Brands International in a research report on Friday, February 13th. Guggenheim increased their price objective on Restaurant Brands International from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Piper Sandler upgraded Restaurant Brands International from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $71.00 to $84.00 in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Restaurant Brands International from $77.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.95.

Restaurant Brands International Company 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.