Iridian Asset Management LLC CT Has $4.46 Million Position in Restaurant Brands International Inc. (NYSE:QSR)

Iridian Asset Management LLC CT grew its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,838 shares of the restaurant operator’s stock after buying an additional 11,117 shares during the quarter. Restaurant Brands International accounts for about 1.0% of Iridian Asset Management LLC CT’s portfolio, making the stock its 29th largest holding. Iridian Asset Management LLC CT’s holdings in Restaurant Brands International were worth $4,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Restaurant Brands International during the 1st quarter worth approximately $48,000. BNP Paribas Financial Markets increased its position in Restaurant Brands International by 22.2% during the 1st quarter. BNP Paribas Financial Markets now owns 1,117 shares of the restaurant operator’s stock worth $89,000 after purchasing an additional 203 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Restaurant Brands International during the 1st quarter worth approximately $94,000. Blue Trust Inc. increased its position in Restaurant Brands International by 123.9% during the 3rd quarter. Blue Trust Inc. now owns 1,388 shares of the restaurant operator’s stock worth $98,000 after purchasing an additional 768 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Restaurant Brands International by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,754 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 704 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Restaurant Brands International from $76.00 to $77.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Citigroup upped their price objective on shares of Restaurant Brands International from $75.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. TD Cowen restated a “buy” rating and issued a $82.00 price target on shares of Restaurant Brands International in a research report on Thursday, September 12th. Piper Sandler decreased their price target on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Oppenheimer decreased their price target on shares of Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Restaurant Brands International presently has an average rating of “Moderate Buy” and an average price target of $83.15.

Restaurant Brands International Stock Down 0.6 %

Shares of NYSE QSR opened at $70.10 on Thursday. The firm has a market cap of $22.21 billion, a PE ratio of 18.07, a P/E/G ratio of 2.12 and a beta of 0.94. Restaurant Brands International Inc. has a 12-month low of $65.51 and a 12-month high of $83.29. The company’s fifty day simple moving average is $70.31 and its 200 day simple moving average is $70.60. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 2.71.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.01. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. As a group, sell-side analysts forecast that Restaurant Brands International Inc. will post 3.37 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, September 20th. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

Insider Buying and Selling

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total transaction of $448,565.68. Following the transaction, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total transaction of $448,565.68. Following the transaction, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total transaction of $2,535,840.00. Following the transaction, the insider now owns 97,479 shares in the company, valued at approximately $6,866,420.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Restaurant Brands International Profile

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.