Cannell & Spears LLC Cuts Position in Restaurant Brands International Inc. $QSR

Cannell & Spears LLC decreased its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,993 shares of the restaurant operator’s stock after selling 50,561 shares during the quarter. Cannell & Spears LLC owned 0.09% of Restaurant Brands International worth $19,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QSR. Intact Investment Management Inc. raised its holdings in shares of Restaurant Brands International by 10.6% in the 3rd 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 in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Restaurant Brands International by 23,154.1% during the third 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 in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Restaurant Brands International during the third quarter worth $1,214,000. Fiera Capital Corp increased its holdings in Restaurant Brands International by 17.2% in the third quarter. Fiera Capital Corp now owns 4,946,163 shares of the restaurant operator’s stock valued at $317,191,000 after buying an additional 724,540 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Restaurant Brands International by 51.4% in the third 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 during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Restaurant Brands International in a report on Thursday, January 22nd. Argus upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, December 2nd. Scotiabank cut their target price on Restaurant Brands International from $74.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, February 13th. Sanford C. Bernstein set a $82.00 target price on Restaurant Brands International in a research note on Friday, February 13th. Finally, Guggenheim upped their price target on Restaurant Brands International from $79.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.95.

Restaurant Brands International Price Performance

Shares of QSR opened at $72.65 on Friday. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.91. Restaurant Brands International Inc. has a 1-year low of $58.71 and a 1-year high of $74.42. The stock has a market cap of $25.17 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 2.06 and a beta of 0.56. The firm has a fifty day moving average price of $69.29 and a 200 day moving average price of $68.10.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued 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 company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The company 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 $0.65 dividend. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Restaurant Brands International’s payout ratio is currently 105.08%.

Insider Activity

In other news, insider Duncan Fulton sold 10,308 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $67.51, for a total value of $695,893.08. Following the completion of the sale, the insider directly owned 49,677 shares of the company’s stock, valued at approximately $3,353,694.27. This represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sami A. Siddiqui sold 12,828 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was 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 in the company, valued at approximately $2,155,121.73. This trade represents a 28.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 186,401 shares of company stock worth $12,857,069 over the last ninety days. 1.25% of the stock is owned by corporate insiders.

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.