Addenda Capital Inc. Decreases Stake in Restaurant Brands International Inc. (NYSE:QSR)

Addenda Capital Inc. lowered its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.8% in the 2nd quarter, Holdings Channel reports. The firm owned 380,118 shares of the restaurant operator’s stock after selling 6,830 shares during the period. Restaurant Brands International accounts for 1.3% of Addenda Capital Inc.’s portfolio, making the stock its 23rd biggest holding. Addenda Capital Inc.’s holdings in Restaurant Brands International were worth $26,749,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QSR. Mather Group LLC. purchased a new stake in Restaurant Brands International during the first quarter valued at $25,000. Montag A & Associates Inc. purchased a new stake in Restaurant Brands International during the fourth quarter valued at $30,000. Oakworth Capital Inc. purchased a new stake in Restaurant Brands International during the fourth quarter valued at $30,000. Crewe Advisors LLC purchased a new stake in Restaurant Brands International during the first quarter valued at $48,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Restaurant Brands International during the first quarter valued at $59,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on QSR shares. TD Securities upped their price objective on Restaurant Brands International from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus cut their price target on Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating for the company in a report on Tuesday. Scotiabank boosted their price target on Restaurant Brands International from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Loop Capital boosted their price target on Restaurant Brands International from $86.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, TD Cowen reissued a “buy” rating and set a $88.00 price target on shares of Restaurant Brands International in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.11.

Restaurant Brands International Price Performance

Restaurant Brands International stock traded down $0.06 during midday trading on Wednesday, reaching $70.60. 1,109,943 shares of the stock traded hands, compared to its average volume of 1,645,099. The stock’s fifty day moving average is $70.20 and its 200-day moving average is $73.43. Restaurant Brands International Inc. has a 12 month low of $61.77 and a 12 month high of $83.29. The stock has a market cap of $22.37 billion, a P/E ratio of 18.21, a PEG ratio of 2.06 and a beta of 0.92. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 2.72.

Restaurant Brands International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s payout ratio is presently 59.79%.

About Restaurant Brands International

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.