Restaurant Brands International Inc. (NYSE:QSR) Shares Acquired by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT raised its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 74.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 107,983 shares of the restaurant operator’s stock after purchasing an additional 46,145 shares during the quarter. Restaurant Brands International accounts for about 1.9% of Iridian Asset Management LLC CT’s portfolio, making the stock its 16th largest holding. Iridian Asset Management LLC CT’s holdings in Restaurant Brands International were worth $7,038,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fiera Capital Corp boosted its stake in shares of Restaurant Brands International by 6.5% during the 3rd quarter. Fiera Capital Corp now owns 3,744,620 shares of the restaurant operator’s stock worth $270,554,000 after acquiring an additional 227,203 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Restaurant Brands International by 68.6% during the third quarter. National Bank of Canada FI now owns 3,181,459 shares of the restaurant operator’s stock valued at $229,545,000 after purchasing an additional 1,294,185 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Restaurant Brands International by 4.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,969,582 shares of the restaurant operator’s stock valued at $215,448,000 after purchasing an additional 118,721 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Restaurant Brands International by 16.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,207,251 shares of the restaurant operator’s stock worth $159,251,000 after purchasing an additional 307,791 shares in the last quarter. Finally, Canoe Financial LP increased its stake in Restaurant Brands International by 7.4% in the 3rd quarter. Canoe Financial LP now owns 2,028,349 shares of the restaurant operator’s stock worth $144,675,000 after purchasing an additional 139,335 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

QSR has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Restaurant Brands International from $76.00 to $77.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. Argus decreased their price objective on shares of Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. KeyCorp cut their target price on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on shares of Restaurant Brands International from $73.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Finally, Oppenheimer dropped their target price on Restaurant Brands International from $86.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Restaurant Brands International has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Insider Buying and Selling

In other news, CFO Sami A. Siddiqui sold 5,579 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $358,171.80. Following the sale, the chief financial officer now directly owns 27,266 shares in the company, valued at approximately $1,750,477.20. This represents a 16.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thiago T. Santelmo sold 3,511 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $64.20, for a total value of $225,406.20. Following the completion of the sale, the insider now owns 32,937 shares in the company, valued at $2,114,555.40. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,510 shares of company stock valued at $7,774,020. 1.36% of the stock is owned by company insiders.

Restaurant Brands International Stock Performance

Shares of NYSE QSR opened at $64.09 on Friday. Restaurant Brands International Inc. has a 12 month low of $59.67 and a 12 month high of $83.29. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75. The company has a market cap of $20.79 billion, a P/E ratio of 16.06, a P/E/G ratio of 2.09 and a beta of 0.93. The business’s 50 day moving average is $64.88 and its two-hundred day moving average is $68.24.

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.