Addenda Capital Inc. Cuts Stock Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Addenda Capital Inc. lessened its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 386,948 shares of the restaurant operator’s stock after selling 9,430 shares during the quarter. Restaurant Brands International comprises 1.4% of Addenda Capital Inc.’s holdings, making the stock its 22nd largest position. Addenda Capital Inc. owned 0.12% of Restaurant Brands International worth $30,743,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. purchased a new position in Restaurant Brands International in the 1st quarter valued at $25,000. Pacifica Partners Inc. grew its stake in Restaurant Brands International by 196.0% during the 4th quarter. Pacifica Partners Inc. now owns 370 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 245 shares in the last quarter. Rise Advisors LLC lifted its stake in Restaurant Brands International by 88.3% in the 4th quarter. Rise Advisors LLC now owns 371 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 174 shares in the last quarter. Oakworth Capital Inc. acquired a new position in shares of Restaurant Brands International during the 4th quarter worth approximately $30,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Restaurant Brands International in the fourth quarter valued at approximately $30,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Restaurant Brands International news, Director Ali Hedayat sold 8,537 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $74.75, for a total value of $638,140.75. Following the completion of the transaction, the director now owns 22,881 shares in the company, valued at $1,710,354.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Joshua Kobza sold 246,196 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $75.17, for a total value of $18,506,553.32. Following the completion of the sale, the chief executive officer now owns 595,764 shares in the company, valued at approximately $44,783,579.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ali Hedayat sold 8,537 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $74.75, for a total transaction of $638,140.75. Following the sale, the director now owns 22,881 shares of the company’s stock, valued at approximately $1,710,354.75. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Restaurant Brands International Stock Up 1.4 %

Shares of NYSE:QSR traded up $0.97 on Friday, hitting $70.45. 3,204,563 shares of the company’s stock were exchanged, compared to its average volume of 1,587,400. Restaurant Brands International Inc. has a 1-year low of $61.77 and a 1-year high of $83.29. The company has a market capitalization of $22.32 billion, a PE ratio of 18.16, a P/E/G ratio of 2.11 and a beta of 0.92. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.08. The firm’s 50-day moving average is $70.70 and its 200 day moving average is $74.80.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Restaurant Brands International had a return on equity of 31.12% and a net margin of 17.17%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Restaurant Brands International Inc. will post 3.37 EPS for the current year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 21st. Restaurant Brands International’s dividend payout ratio (DPR) is 59.79%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays upped their target price on Restaurant Brands International from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Piper Sandler cut their price target on shares of Restaurant Brands International from $84.00 to $82.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Loop Capital increased their price objective on Restaurant Brands International from $86.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Genuity Capital Markets decreased their price target on Restaurant Brands International from $74.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, The Goldman Sachs Group began coverage on Restaurant Brands International in a research report on Thursday, June 13th. They set a “buy” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and an average price target of $83.03.

Restaurant Brands International Company Profile

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.