Cerity Partners LLC Increases Stock Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Cerity Partners LLC lifted its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 28.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,767 shares of the restaurant operator’s stock after purchasing an additional 3,067 shares during the period. Cerity Partners LLC’s holdings in Restaurant Brands International were worth $993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. D1 Capital Partners L.P. bought a new stake in Restaurant Brands International during the second quarter valued at $200,097,000. Canada Pension Plan Investment Board boosted its stake in Restaurant Brands International by 31.4% during the second quarter. Canada Pension Plan Investment Board now owns 3,490,157 shares of the restaurant operator’s stock valued at $245,881,000 after buying an additional 835,000 shares during the period. 1832 Asset Management L.P. boosted its stake in Restaurant Brands International by 15.6% during the second quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after buying an additional 773,783 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Restaurant Brands International by 4.9% during the second quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock valued at $811,907,000 after buying an additional 536,124 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Restaurant Brands International by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock valued at $390,678,000 after buying an additional 518,795 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Restaurant Brands International Trading Up 0.4 %

NYSE QSR opened at $71.11 on Thursday. The stock has a market cap of $23.02 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93. Restaurant Brands International Inc. has a fifty-two week low of $65.87 and a fifty-two week high of $83.29. The stock has a 50 day simple moving average of $70.23 and a two-hundred day simple moving average of $69.94. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.94 and a current ratio of 1.02.

Restaurant Brands International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, December 20th. Restaurant Brands International’s payout ratio is 58.15%.

Wall Street Analyst Weigh In

QSR has been the subject of a number of research reports. Royal Bank of Canada cut their price target on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup boosted their price target 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. Guggenheim boosted their price target on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Evercore ISI cut their price target on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Bank of America increased their price objective on Restaurant Brands International from $76.00 to $77.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.27.

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.