Renaissance Technologies LLC increased its stake in Restaurant Brands International (NYSE:QSR) (TSE:QSR) by 278.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,800 shares of the restaurant operator’s stock after buying an additional 74,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Restaurant Brands International were worth $6,280,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Restaurant Brands International by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 302,910 shares of the restaurant operator’s stock worth $19,350,000 after purchasing an additional 4,963 shares during the period. Wells Fargo & Company MN increased its stake in Restaurant Brands International by 29.3% in the third quarter. Wells Fargo & Company MN now owns 326,621 shares of the restaurant operator’s stock worth $20,864,000 after purchasing an additional 74,074 shares during the period. Dimensional Fund Advisors LP increased its stake in Restaurant Brands International by 13.5% in the third quarter. Dimensional Fund Advisors LP now owns 13,449 shares of the restaurant operator’s stock worth $859,000 after purchasing an additional 1,599 shares during the period. Allianz Asset Management GmbH increased its stake in Restaurant Brands International by 80.4% in the third quarter. Allianz Asset Management GmbH now owns 92,233 shares of the restaurant operator’s stock worth $5,879,000 after purchasing an additional 41,096 shares during the period. Finally, AMP Capital Investors Ltd increased its stake in Restaurant Brands International by 1.6% in the third quarter. AMP Capital Investors Ltd now owns 84,699 shares of the restaurant operator’s stock worth $5,398,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 78.11% of the company’s stock.
In other Restaurant Brands International news, insider Heitor Goncalves sold 81,637 shares of Restaurant Brands International stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $59.42, for a total value of $4,850,870.54. Following the transaction, the insider now owns 187,333 shares in the company, valued at $11,131,326.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ali Hedayat bought 5,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was bought at an average price of $58.00 per share, for a total transaction of $290,000.00. Following the purchase, the director now directly owns 37,592 shares of the company’s stock, valued at $2,180,336. The disclosure for this purchase can be found here. Insiders sold 471,676 shares of company stock worth $27,885,174 in the last quarter. 3.05% of the stock is owned by insiders.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its earnings results on Monday, February 12th. The restaurant operator reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.09. Restaurant Brands International had a return on equity of 24.56% and a net margin of 12.70%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. sell-side analysts predict that Restaurant Brands International will post 2.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.27%. The ex-dividend date was Wednesday, March 14th. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.21. Restaurant Brands International’s payout ratio is 85.71%.
QSR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Tuesday, December 26th. Morgan Stanley upgraded Restaurant Brands International from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 26th. TheStreet upgraded Restaurant Brands International from a “c+” rating to a “b” rating in a research note on Thursday, March 15th. Royal Bank of Canada raised their price target on Restaurant Brands International from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. Finally, Nomura raised their price target on Restaurant Brands International from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. Restaurant Brands International has a consensus rating of “Buy” and a consensus price target of $70.06.
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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.
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