Principal Financial Group Inc. Has $1.37 Million Position in Restaurant Brands International Inc. (NYSE:QSR)

Principal Financial Group Inc. lessened its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 5.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,468 shares of the restaurant operator’s stock after selling 1,100 shares during the period. Principal Financial Group Inc.’s holdings in Restaurant Brands International were worth $1,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mather Group LLC. bought a new position in Restaurant Brands International in the 1st quarter valued at $25,000. Crewe Advisors LLC bought a new stake in Restaurant Brands International during the 1st quarter worth about $48,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Restaurant Brands International during the 1st quarter valued at about $59,000. Parallel Advisors LLC boosted its stake in shares of Restaurant Brands International by 24.1% in the 4th quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock valued at $62,000 after purchasing an additional 153 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Restaurant Brands International during the 4th quarter worth approximately $79,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Piper Sandler cut their target price on Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Truist Financial decreased their target price on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Bank of America increased their price target on shares of Restaurant Brands International from $72.00 to $79.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada boosted their price objective on shares of Restaurant Brands International from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.04.

Restaurant Brands International Price Performance

NYSE:QSR opened at $69.15 on Friday. The stock has a market capitalization of $21.91 billion, a PE ratio of 17.82, a P/E/G ratio of 2.04 and a beta of 0.93. Restaurant Brands International Inc. has a 1-year low of $61.77 and a 1-year high of $83.29. The firm has a fifty day simple moving average of $70.29 and a 200 day simple moving average of $72.33. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 2.71.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. On average, research analysts expect that Restaurant Brands International Inc. will post 3.36 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, September 20th. Restaurant Brands International’s dividend payout ratio (DPR) is presently 59.79%.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Axel Mr Schwan sold 36,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,866,420.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 97,479 shares of the company’s stock, valued at approximately $6,866,420.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 37,179 shares of the company’s stock, valued at approximately $2,551,594.77. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

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.