Traders Purchase High Volume of Put Options on Restaurant Brands International (NYSE:QSR)

Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 8,316 put options on the company. This represents an increase of approximately 1,622% compared to the average daily volume of 483 put options.

Shares of QSR stock opened at $66.56 on Thursday. The stock has a market cap of $20.43 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.62 and a beta of 1.19. The company has a quick ratio of 1.60, a current ratio of 1.65 and a debt-to-equity ratio of 3.22. Restaurant Brands International has a fifty-two week low of $38.91 and a fifty-two week high of $68.48. The business has a fifty day simple moving average of $63.56 and a 200-day simple moving average of $60.08.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Wednesday, February 10th. The restaurant operator reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.13). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Restaurant Brands International had a return on equity of 26.67% and a net margin of 11.00%. On average, sell-side analysts anticipate that Restaurant Brands International will post 2.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 6th. Stockholders of record on Tuesday, March 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, March 22nd. Restaurant Brands International’s dividend payout ratio is presently 76.47%.

A number of research firms have weighed in on QSR. BMO Capital Markets raised their price objective on shares of Restaurant Brands International from $66.00 to $71.00 in a report on Thursday, March 18th. Piper Sandler increased their target price on shares of Restaurant Brands International from $62.00 to $65.00 in a research report on Monday, December 28th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of Restaurant Brands International in a research report on Monday, January 4th. They issued a “buy” rating and a $74.00 price target for the company. Stephens dropped their price objective on Restaurant Brands International from $73.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, February 11th. Finally, KeyCorp cut their target price on shares of Restaurant Brands International from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $65.09.

In other Restaurant Brands International news, CFO Matthew Dunnigan sold 27,115 shares of the firm’s stock in a transaction on Friday, February 26th. The stock was sold at an average price of $60.31, for a total value of $1,635,305.65. Following the sale, the chief financial officer now directly owns 82,607 shares in the company, valued at $4,982,028.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joshua Kobza sold 157,621 shares of Restaurant Brands International stock in a transaction dated Friday, February 26th. The stock was sold at an average price of $60.31, for a total value of $9,506,122.51. Following the sale, the chief operating officer now directly owns 526,717 shares of the company’s stock, valued at $31,766,302.27. The disclosure for this sale can be found here. Insiders sold 417,750 shares of company stock valued at $25,726,778 in the last 90 days. Company insiders own 3.69% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Insight Financial Services acquired a new stake in Restaurant Brands International during the fourth quarter worth about $29,000. Paces Ferry Wealth Advisors LLC acquired a new position in shares of Restaurant Brands International in the 3rd quarter valued at about $29,000. Exane Derivatives purchased a new stake in shares of Restaurant Brands International during the 4th quarter worth about $45,000. Veriti Management LLC acquired a new stake in Restaurant Brands International during the 4th quarter worth approximately $128,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Restaurant Brands International by 43.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,331 shares of the restaurant operator’s stock valued at $142,000 after buying an additional 701 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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) brands. 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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