Short Interest in Restaurant Brands International Inc. (NYSE:QSR) Decreases By 19.5%

Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,380,000 shares, a drop of 19.5% from the October 15th total of 6,680,000 shares. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 1.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank of Canada cut their price objective on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Piper Sandler reduced 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. CIBC decreased their price target on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Stifel Nicolaus reduced their target price on Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Restaurant Brands International currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.37.

Insider Transactions at Restaurant Brands International

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $2,551,594.77. This represents a 14.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Axel Mr Schwan sold 36,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $70.44, for a total value of $2,535,840.00. Following the completion of the transaction, the insider now owns 97,479 shares of the company’s stock, valued at approximately $6,866,420.76. This represents a 26.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Restaurant Brands International

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Restaurant Brands International by 22.2% during the first quarter. BNP Paribas Financial Markets now owns 1,117 shares of the restaurant operator’s stock valued at $89,000 after acquiring an additional 203 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Restaurant Brands International by 6.1% in the 1st quarter. Russell Investments Group Ltd. now owns 124,770 shares of the restaurant operator’s stock worth $9,915,000 after purchasing an additional 7,196 shares during the period. US Bancorp DE boosted its stake in shares of Restaurant Brands International by 2.8% during the 1st quarter. US Bancorp DE now owns 9,352 shares of the restaurant operator’s stock valued at $743,000 after purchasing an additional 256 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Restaurant Brands International by 5.1% during the 1st quarter. Bleakley Financial Group LLC now owns 3,201 shares of the restaurant operator’s stock valued at $254,000 after purchasing an additional 154 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Restaurant Brands International during the first quarter valued at about $721,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Restaurant Brands International Trading Down 1.4 %

QSR stock traded down $0.95 during trading on Friday, hitting $67.52. 1,279,694 shares of the company traded hands, compared to its average volume of 1,584,606. The company has a 50-day moving average of $70.13 and a 200-day moving average of $70.28. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.94 and a current ratio of 1.02. Restaurant Brands International has a 1 year low of $65.87 and a 1 year high of $83.29. The firm has a market capitalization of $21.86 billion, a PE ratio of 16.91, a P/E/G ratio of 2.20 and a beta of 0.94.

Restaurant Brands International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, December 20th. Restaurant Brands International’s payout ratio is 58.15%.

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.