Goldman Sachs Group Inc. Sells 7,712,323 Shares of Restaurant Brands International Inc. $QSR

Goldman Sachs Group Inc. lessened its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 75.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,523,391 shares of the restaurant operator’s stock after selling 7,712,323 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Restaurant Brands International were worth $172,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. D.A. Davidson & CO. raised its holdings in shares of Restaurant Brands International by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 8,451 shares of the restaurant operator’s stock worth $577,000 after buying an additional 154 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Restaurant Brands International by 2.0% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 8,029 shares of the restaurant operator’s stock valued at $548,000 after acquiring an additional 161 shares during the last quarter. Applied Finance Capital Management LLC grew its position in Restaurant Brands International by 1.9% in the fourth quarter. Applied Finance Capital Management LLC now owns 9,440 shares of the restaurant operator’s stock valued at $644,000 after acquiring an additional 179 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Restaurant Brands International by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 57,512 shares of the restaurant operator’s stock worth $3,967,000 after purchasing an additional 194 shares in the last quarter. Finally, Cresset Asset Management LLC increased its holdings in shares of Restaurant Brands International by 4.4% during the third quarter. Cresset Asset Management LLC now owns 5,336 shares of the restaurant operator’s stock worth $346,000 after buying an additional 225 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Scotia upped their price objective on Restaurant Brands International from $81.00 to $83.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their price objective on Restaurant Brands International from $83.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Sanford C. Bernstein set a $82.00 target price on Restaurant Brands International in a report on Friday, February 13th. UBS Group raised their price target on shares of Restaurant Brands International from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Piper Sandler upgraded shares of Restaurant Brands International from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $71.00 to $84.00 in a research report on Monday, March 2nd. Seventeen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Restaurant Brands International presently has an average rating of “Moderate Buy” and a consensus target price of $83.54.

Restaurant Brands International Trading Down 0.1%

Shares of QSR stock opened at $72.60 on Monday. Restaurant Brands International Inc. has a fifty-two week low of $61.33 and a fifty-two week high of $81.96. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99. The stock has a 50 day simple moving average of $76.61 and a two-hundred day simple moving average of $72.38. The company has a market cap of $25.22 billion, a P/E ratio of 25.56, a PEG ratio of 1.88 and a beta of 0.49.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. Research analysts forecast that Restaurant Brands International Inc. will post 4.07 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, June 23rd. Restaurant Brands International’s dividend payout ratio (DPR) is presently 91.55%.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Thiago T. Santelmo sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $75.41, for a total value of $754,100.00. Following the completion of the sale, the insider directly owned 78,560 shares in the company, valued at approximately $5,924,209.60. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill Granat sold 25,000 shares of Restaurant Brands International stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $75.09, for a total transaction of $1,877,250.00. Following the completion of the sale, the insider directly owned 478,845 shares of the company’s stock, valued at approximately $35,956,471.05. This trade represents a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 350,000 shares of company stock valued at $26,198,650. 1.22% of the stock is currently owned by corporate insiders.

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.