Pendal Group Ltd Boosts Stake in Restaurant Brands International Inc (QSR)

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Pendal Group Ltd grew its stake in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,760 shares of the restaurant operator’s stock after acquiring an additional 867 shares during the period. Pendal Group Ltd’s holdings in Restaurant Brands International were worth $3,691,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Morgan Stanley lifted its position in shares of Restaurant Brands International by 20.5% during the 3rd quarter. Morgan Stanley now owns 1,255,679 shares of the restaurant operator’s stock valued at $74,437,000 after acquiring an additional 213,723 shares during the period. Addenda Capital Inc. lifted its position in shares of Restaurant Brands International by 36.5% during the 3rd quarter. Addenda Capital Inc. now owns 460,426 shares of the restaurant operator’s stock valued at $27,417,000 after acquiring an additional 123,232 shares during the period. TD Asset Management Inc. lifted its position in shares of Restaurant Brands International by 5.8% during the 3rd quarter. TD Asset Management Inc. now owns 4,239,685 shares of the restaurant operator’s stock valued at $250,863,000 after acquiring an additional 232,606 shares during the period. Bridgewater Associates LP lifted its position in shares of Restaurant Brands International by 16.8% during the 3rd quarter. Bridgewater Associates LP now owns 117,089 shares of the restaurant operator’s stock valued at $6,928,000 after acquiring an additional 16,865 shares during the period. Finally, Riverhead Capital Management LLC lifted its position in shares of Restaurant Brands International by 52.0% during the 3rd quarter. Riverhead Capital Management LLC now owns 3,508 shares of the restaurant operator’s stock valued at $207,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 80.72% of the company’s stock.

A number of equities research analysts have recently issued reports on QSR shares. KeyCorp started coverage on shares of Restaurant Brands International in a research report on Wednesday, October 3rd. They set an “overweight” rating and a $68.00 price target for the company. ValuEngine downgraded shares of Restaurant Brands International from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Wells Fargo & Co reduced their price target on shares of Restaurant Brands International from $69.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, October 16th. UBS Group set a $74.00 price objective on shares of Restaurant Brands International and gave the stock a “buy” rating in a research note on Thursday, October 18th. Finally, Citigroup dropped their price objective on shares of Restaurant Brands International from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.27.

Shares of QSR opened at $62.42 on Thursday. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.34 and a quick ratio of 1.27. Restaurant Brands International Inc has a 1-year low of $50.20 and a 1-year high of $65.17. The company has a market cap of $15.70 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 14th. Restaurant Brands International’s dividend payout ratio (DPR) is 85.71%.

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Restaurant Brands International Profile

Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.

See Also: Market Capitalization in the Stock Market

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Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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