Bridgewater Associates LP Sells 278,164 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Bridgewater Associates LP decreased its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 55.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,608 shares of the restaurant operator’s stock after selling 278,164 shares during the period. Bridgewater Associates LP owned about 0.07% of Restaurant Brands International worth $16,297,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its stake in shares of Restaurant Brands International by 4.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,158 shares of the restaurant operator’s stock valued at $293,000 after acquiring an additional 160 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Restaurant Brands International by 2.2% in the 3rd quarter. D.A. Davidson & CO. now owns 8,412 shares of the restaurant operator’s stock worth $607,000 after purchasing an additional 179 shares in the last quarter. Farther Finance Advisors LLC raised its position in Restaurant Brands International by 79.4% in the third quarter. Farther Finance Advisors LLC now owns 418 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 185 shares during the last quarter. Arvest Investments Inc. boosted its stake in shares of Restaurant Brands International by 1.1% during the third quarter. Arvest Investments Inc. now owns 18,450 shares of the restaurant operator’s stock valued at $1,331,000 after purchasing an additional 197 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Restaurant Brands International by 17.8% in the third quarter. BNP Paribas Financial Markets now owns 1,754 shares of the restaurant operator’s stock valued at $126,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the business’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 completion of the transaction, the insider now directly owns 37,179 shares in the company, valued at $2,551,594.77. The trade was a 14.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.36% of the company’s stock.

Restaurant Brands International Stock Up 1.4 %

QSR opened at $70.18 on Thursday. The company’s 50-day moving average price is $70.25 and its two-hundred day moving average price is $69.98. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75. Restaurant Brands International Inc. has a twelve month low of $65.87 and a twelve month high of $83.29. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.27 and a beta of 0.94.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.32 annualized dividend and a yield of 3.31%. Restaurant Brands International’s dividend payout ratio is currently 58.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial cut their target price on shares of Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company decreased their price target 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. Piper Sandler decreased their target price 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. Guggenheim increased their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Citigroup lifted their target price on shares of Restaurant Brands International from $75.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Restaurant Brands International currently has an average rating of “Moderate Buy” and an average target price of $82.37.

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.