News Source: americanbankingnews.com
Fiera Capital Corp Acquires 241,817 Shares of Restaurant Brands International Inc. (NYSE:QSR)
News Source/Courtesy: americanbankingnews.com

Fiera Capital Corp grew its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 8.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,034,199 shares of the restaurant operator’s stock after buying an additional 241,817 shares during the quarter. Fiera Capital Corp owned 0.99% of Restaurant Brands International worth $197,236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allred Capital Management LLC bought a new position in shares of Restaurant Brands International during the first quarter valued at approximately $57,000. Bedel Financial Consulting Inc. bought a new position in shares of Restaurant Brands International during the first quarter valued at approximately $71,000. GPS Wealth Strategies Group LLC bought a new position in shares of Restaurant Brands International during the first quarter valued at approximately $76,000. IFP Advisors Inc grew its stake in shares of Restaurant Brands International by 136.2% during the first quarter. IFP Advisors Inc now owns 1,214 shares of the restaurant operator’s stock valued at $80,000 after buying an additional 700 shares during the last quarter. Finally, NuWave Investment Management LLC grew its stake in shares of Restaurant Brands International by 776.0% during the first quarter. NuWave Investment Management LLC now owns 1,463 shares of the restaurant operator’s stock valued at $95,000 after buying an additional 1,296 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

In other Restaurant Brands International news, insider Axel Mr Schwan sold 25,931 shares of the stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $69.73, for a total transaction of $1,808,168.63. Following the sale, the insider now directly owns 140,723 shares of the company’s stock, valued at approximately $9,812,614.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Fernando Machado sold 121,061 shares of the stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $64.01, for a total value of $7,749,114.61. Insiders have sold a total of 462,602 shares of company stock worth $31,156,656 over the last ninety days. 3.69% of the stock is owned by insiders.

QSR traded up $0.06 during midday trading on Friday, hitting $69.18. 542,547 shares of the company were exchanged, compared to its average volume of 1,488,454. The business has a 50 day moving average of $67.50. The stock has a market cap of $21.26 billion, a price-to-earnings ratio of 40.69, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 3.17. Restaurant Brands International Inc. has a 1-year low of $51.12 and a 1-year high of $71.12.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, April 29th. The restaurant operator reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. Restaurant Brands International had a return on equity of 25.25% and a net margin of 10.41%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. On average, research analysts anticipate that Restaurant Brands International Inc. will post 2.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 23rd will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.06%. The ex-dividend date is Tuesday, June 22nd. Restaurant Brands International’s dividend payout ratio is currently 104.43%.

Several brokerages recently issued reports on QSR. Royal Bank of Canada increased their price objective on Restaurant Brands International from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. Truist upped their target price on Restaurant Brands International from $70.00 to $80.00 in a report on Monday, May 3rd. Oppenheimer restated a “hold” rating on shares of Restaurant Brands International in a report on Sunday, May 2nd. BMO Capital Markets upped their target price on Restaurant Brands International from $71.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. Finally, Cowen upped their target price on Restaurant Brands International from $65.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Restaurant Brands International currently has an average rating of “Buy” and an average target price of $71.59.

Restaurant Brands International Company Profile

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

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News Source: americanbankingnews.com

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