Vertex One Asset Management Inc. cut its stake in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 47.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,288 shares of the restaurant operator’s stock after selling 210,000 shares during the quarter. Restaurant Brands International makes up approximately 2.5% of Vertex One Asset Management Inc.’s holdings, making the stock its 12th biggest holding. Vertex One Asset Management Inc.’s holdings in Restaurant Brands International were worth $14,466,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Krilogy Financial LLC increased its position in shares of Restaurant Brands International by 2,938.5% during the third quarter. Krilogy Financial LLC now owns 1,975 shares of the restaurant operator’s stock worth $126,000 after acquiring an additional 1,910 shares during the period. Cerebellum GP LLC purchased a new position in shares of Restaurant Brands International during the fourth quarter worth approximately $129,000. Delpha Capital Management LLC purchased a new position in shares of Restaurant Brands International during the fourth quarter worth approximately $147,000. YHB Investment Advisors Inc. purchased a new position in shares of Restaurant Brands International during the fourth quarter worth approximately $208,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Restaurant Brands International during the fourth quarter worth approximately $209,000. 78.30% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Ali Hedayat acquired 5,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was acquired at an average cost of $58.00 per share, for a total transaction of $290,000.00. Following the completion of the purchase, the director now owns 37,592 shares of the company’s stock, valued at approximately $2,180,336. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Heitor Goncalves sold 81,637 shares of Restaurant Brands International stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $59.42, for a total transaction of $4,850,870.54. Following the sale, the insider now owns 187,333 shares of the company’s stock, valued at $11,131,326.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 471,676 shares of company stock valued at $27,885,174. 3.05% of the stock is owned by insiders.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Monday, February 12th. The restaurant operator reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.09. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.25 billion. Restaurant Brands International had a net margin of 12.70% and a return on equity of 24.56%. Restaurant Brands International’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. research analysts anticipate that Restaurant Brands International Inc will post 2.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.03%. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, March 14th. Restaurant Brands International’s dividend payout ratio (DPR) is 33.07%.
QSR has been the topic of several research reports. Evercore ISI initiated coverage on shares of Restaurant Brands International in a report on Monday, December 11th. They set an “outperform” rating and a $75.00 price objective on the stock. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, December 26th. UBS Group set a $74.00 price objective on shares of Restaurant Brands International and gave the company a “buy” rating in a report on Tuesday, January 16th. Nomura lifted their price objective on shares of Restaurant Brands International from $75.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Restaurant Brands International in a report on Tuesday, February 13th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Restaurant Brands International currently has an average rating of “Buy” and an average price target of $70.35.
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Restaurant Brands International Profile
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 23,000 restaurants in more than 100 countries and the United States territories, as of September 30, 2017. It operates through three segments: Tim Hortons (TH), Burger King (BK) and Popeyes Louisiana Kitchen (PLK).
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