Cadence Bank Cuts Stake in Restaurant Brands International Inc. (NYSE:QSR)

Cadence Bank lessened its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 54.1% during the third quarter, Holdings Channel.com reports. The firm owned 72,371 shares of the restaurant operator’s stock after selling 85,434 shares during the quarter. Cadence Bank’s holdings in Restaurant Brands International were worth $5,219,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. EdgePoint Investment Group Inc. grew its stake in shares of Restaurant Brands International by 4.9% during the second quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock valued at $811,907,000 after buying an additional 536,124 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Restaurant Brands International by 15.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after acquiring an additional 773,783 shares during the period. Mackenzie Financial Corp grew its position in Restaurant Brands International by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock worth $390,678,000 after acquiring an additional 518,795 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Restaurant Brands International by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,144,430 shares of the restaurant operator’s stock worth $291,615,000 after purchasing an additional 169,458 shares during the period. Finally, Fiera Capital Corp increased its stake in Restaurant Brands International by 6.5% in the 3rd quarter. Fiera Capital Corp now owns 3,744,620 shares of the restaurant operator’s stock worth $270,554,000 after purchasing an additional 227,203 shares during the period. 82.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QSR has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. KeyCorp cut their price target on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Citigroup upped their price objective on shares of Restaurant Brands International from $75.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Restaurant Brands International from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Evercore ISI reduced their price target on Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.37.

Restaurant Brands International Trading Down 0.9 %

NYSE QSR opened at $69.21 on Wednesday. Restaurant Brands International Inc. has a 12 month low of $65.87 and a 12 month high of $83.29. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75. The stock’s fifty day moving average price is $70.23 and its 200-day moving average price is $69.98. The stock has a market cap of $22.40 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.24 and a beta of 0.94.

Restaurant Brands International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, December 20th. Restaurant Brands International’s dividend payout ratio (DPR) is 58.15%.

Insider Buying and Selling at Restaurant Brands International

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the sale, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. This trade represents a 14.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.36% of the stock is owned by company insiders.

About Restaurant Brands International

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.