Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 1.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,013,263 shares of the restaurant operator’s stock after selling 11,312 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.34% of Restaurant Brands International worth $54,987,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of QSR. Pelham Capital Ltd. bought a new stake in shares of Restaurant Brands International during the 2nd quarter worth approximately $241,468,000. Maverick Capital Ltd. raised its position in Restaurant Brands International by 925.7% during the 1st quarter. Maverick Capital Ltd. now owns 4,612,010 shares of the restaurant operator’s stock valued at $184,619,000 after purchasing an additional 4,162,376 shares in the last quarter. Eminence Capital LP bought a new stake in Restaurant Brands International during the 1st quarter valued at $131,621,000. Norges Bank bought a new stake in Restaurant Brands International during the 4th quarter valued at $156,659,000. Finally, EdgePoint Investment Group Inc. increased its holdings in shares of Restaurant Brands International by 94.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,128,471 shares of the restaurant operator’s stock valued at $126,536,000 after acquiring an additional 1,517,090 shares during the period. 77.37% of the stock is owned by hedge funds and other institutional investors.
QSR stock opened at $56.52 on Friday. The company has a debt-to-equity ratio of 3.49, a current ratio of 2.08 and a quick ratio of 2.02. The business has a 50 day simple moving average of $55.70 and a 200-day simple moving average of $53.67. The firm has a market capitalization of $16.97 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 3.08 and a beta of 1.38. Restaurant Brands International Inc has a 1 year low of $25.08 and a 1 year high of $79.46.
A number of brokerages have recently issued reports on QSR. KeyCorp lifted their price target on Restaurant Brands International from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Oppenheimer reiterated a “buy” rating and issued a $62.00 price target on shares of Restaurant Brands International in a report on Thursday, May 28th. Barclays dropped their target price on Restaurant Brands International from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Morgan Stanley boosted their target price on Restaurant Brands International from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Finally, Deutsche Bank boosted their target price on Restaurant Brands International from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. Restaurant Brands International currently has a consensus rating of “Buy” and a consensus target price of $63.24.
In other news, insider Felipe A. Athayde sold 43,476 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $49.41, for a total value of $2,148,149.16. Following the completion of the sale, the insider now directly owns 14,429 shares in the company, valued at $712,936.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.69% of the stock is owned by corporate insiders.
About Restaurant Brands International
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.
Further Reading: Outperform Rating
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