11,088 Shares in Restaurant Brands International Inc. (NYSE:QSR) Bought by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC acquired a new position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) in the second quarter, Holdings Channel reports. The firm acquired 11,088 shares of the restaurant operator’s stock, valued at approximately $792,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in Restaurant Brands International in the first quarter valued at about $25,000. Crewe Advisors LLC purchased a new stake in Restaurant Brands International in the first quarter valued at about $48,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Restaurant Brands International in the first quarter valued at about $59,000. Parallel Advisors LLC raised its stake in Restaurant Brands International by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock valued at $62,000 after buying an additional 153 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Restaurant Brands International by 22.2% in the first quarter. BNP Paribas Financial Markets now owns 1,117 shares of the restaurant operator’s stock worth $89,000 after purchasing an additional 203 shares during the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Restaurant Brands International Stock Up 0.5 %

Shares of QSR opened at $72.50 on Wednesday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.71 and a current ratio of 0.78. Restaurant Brands International Inc. has a one year low of $61.77 and a one year high of $83.29. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.13 and a beta of 0.93. The stock has a 50 day moving average price of $69.95 and a 200 day moving average price of $71.44.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, topping the consensus estimate of $0.85 by $0.01. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Equities research analysts forecast that Restaurant Brands International Inc. will post 3.37 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 59.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. KeyCorp decreased their target price on Restaurant Brands International from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Morgan Stanley decreased their target price on Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Wells Fargo & Company decreased their target price on Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, August 9th. 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 report on Monday, August 19th. Finally, Guggenheim lifted their target price on Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.11.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the transaction, the insider now owns 37,179 shares of the company’s stock, valued at $2,551,594.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Axel Mr Schwan sold 36,000 shares of the business’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 sale, the insider now owns 97,479 shares in the company, valued at approximately $6,866,420.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $448,565.68. Following the completion of the sale, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

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.