Baupost Group LLC MA Purchases New Stake in Restaurant Brands International Inc. (NYSE:QSR)

Baupost Group LLC MA acquired a new position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the 3rd quarter, HoldingsChannel reports. The fund acquired 28,294 shares of the restaurant operator’s stock, valued at approximately $2,041,000. Restaurant Brands International comprises 0.1% of Baupost Group LLC MA’s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QSR. Cetera Investment Advisers grew its stake in shares of Restaurant Brands International by 63.7% during the 1st quarter. Cetera Investment Advisers now owns 40,837 shares of the restaurant operator’s stock worth $3,245,000 after acquiring an additional 15,891 shares during the period. Sumitomo Life Insurance Co. purchased a new position in shares of Restaurant Brands International in the second quarter worth about $666,000. Dimensional Fund Advisors LP raised its position in shares of Restaurant Brands International by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 650,486 shares of the restaurant operator’s stock valued at $45,772,000 after purchasing an additional 10,855 shares during the period. Raymond James & Associates raised its position in shares of Restaurant Brands International by 42.0% in the second quarter. Raymond James & Associates now owns 77,669 shares of the restaurant operator’s stock valued at $5,466,000 after purchasing an additional 22,981 shares during the period. Finally, Fiera Capital Corp lifted its stake in shares of Restaurant Brands International by 6.5% during the 2nd quarter. Fiera Capital Corp now owns 3,517,417 shares of the restaurant operator’s stock valued at $247,955,000 after buying an additional 213,877 shares in the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QSR has been the topic of a number of analyst reports. Oppenheimer lowered their target price on shares of Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on Restaurant Brands International from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Argus dropped their price objective on Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. CIBC reduced their target price on Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Restaurant Brands International currently has an average rating of “Moderate Buy” and an average price target of $82.37.

Insider Buying and Selling

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the sale, the insider now directly owns 37,179 shares of the company’s stock, valued at $2,551,594.77. This trade represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.36% of the stock is owned by insiders.

Restaurant Brands International Price Performance

QSR opened at $69.21 on Wednesday. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.02 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $70.23 and its 200 day simple moving average is $69.98. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.27 and a beta of 0.94. Restaurant Brands International Inc. has a 1 year low of $65.87 and a 1 year high of $83.29.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s dividend payout ratio is 58.15%.

Restaurant Brands International Company 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.