Canoe Financial LP Has $144.68 Million Stake in Restaurant Brands International Inc. (NYSE:QSR)

Canoe Financial LP boosted its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,028,349 shares of the restaurant operator’s stock after purchasing an additional 139,335 shares during the period. Restaurant Brands International makes up 3.5% of Canoe Financial LP’s portfolio, making the stock its 9th largest position. Canoe Financial LP’s holdings in Restaurant Brands International were worth $144,675,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Restaurant Brands International in the first quarter worth $850,000. Oppenheimer & Co. Inc. lifted its stake in Restaurant Brands International by 16.5% in the first quarter. Oppenheimer & Co. Inc. now owns 74,421 shares of the restaurant operator’s stock worth $5,913,000 after purchasing an additional 10,544 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Restaurant Brands International by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 124,770 shares of the restaurant operator’s stock valued at $9,915,000 after acquiring an additional 7,196 shares during the last quarter. Norden Group LLC bought a new position in shares of Restaurant Brands International during the first quarter valued at about $875,000. Finally, Cetera Investment Advisers raised its stake in shares of Restaurant Brands International by 63.7% during the first quarter. Cetera Investment Advisers now owns 40,837 shares of the restaurant operator’s stock valued at $3,245,000 after acquiring an additional 15,891 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

QSR has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating and set a $82.00 price objective on shares of Restaurant Brands International in a research note on Thursday, September 12th. Morgan Stanley lowered their price objective on shares of Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Guggenheim upped their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Bank of America upped their price objective on shares of Restaurant Brands International from $76.00 to $77.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. Finally, Citigroup upped their price objective on shares of Restaurant Brands International from $75.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.15.

Insider Buying and Selling

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

Restaurant Brands International Trading Down 2.3 %

Shares of QSR stock opened at $70.54 on Monday. Restaurant Brands International Inc. has a 12-month low of $64.97 and a 12-month high of $83.29. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 2.71. The firm’s 50 day moving average is $70.38 and its 200 day moving average is $70.61. The stock has a market capitalization of $22.35 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.12 and a beta of 0.94.

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. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Research analysts expect that Restaurant Brands International Inc. will post 3.37 earnings per share for the current 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 issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, September 20th. Restaurant Brands International’s dividend payout ratio is currently 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.