Forsta AP Fonden Acquires 48,800 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Forsta AP Fonden increased its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 70.2% in the second quarter, Holdings Channel reports. The institutional investor owned 118,300 shares of the restaurant operator’s stock after buying an additional 48,800 shares during the period. Forsta AP Fonden’s holdings in Restaurant Brands International were worth $8,334,000 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 QSR. Cibc World Market Inc. increased its stake in Restaurant Brands International by 17.8% during the 2nd quarter. Cibc World Market Inc. now owns 3,073,530 shares of the restaurant operator’s stock worth $216,284,000 after acquiring an additional 464,726 shares during the period. Andra AP fonden bought a new position in Restaurant Brands International in the second quarter valued at about $1,597,000. Choreo LLC acquired a new position in Restaurant Brands International during the 2nd quarter worth approximately $355,000. Varma Mutual Pension Insurance Co grew its position in Restaurant Brands International by 25.3% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 187,058 shares of the restaurant operator’s stock worth $13,178,000 after acquiring an additional 37,758 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Restaurant Brands International by 40.9% in the second quarter. Acadian Asset Management LLC now owns 15,643 shares of the restaurant operator’s stock valued at $1,100,000 after purchasing an additional 4,543 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Stock Up 0.1 %

Shares of NYSE:QSR opened at $69.18 on Friday. The firm has a market cap of $22.39 billion, a P/E ratio of 17.83, a PEG ratio of 2.08 and a beta of 0.93. Restaurant Brands International Inc. has a 52-week low of $61.77 and a 52-week high of $83.29. The business’s 50 day simple moving average is $70.28 and its two-hundred day simple moving average is $72.28. 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 (NYSE:QSR) (TSE:QSR) last issued its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. As a group, research analysts forecast that Restaurant Brands International Inc. will post 3.36 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio is currently 59.79%.

Analyst Ratings Changes

Several analysts have recently weighed in on QSR shares. KeyCorp reduced their price target on Restaurant Brands International from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Wells Fargo & Company decreased their price target on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus reduced 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 research note on Tuesday, August 13th. Bank of America raised their target price on Restaurant Brands International from $72.00 to $79.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Finally, TD Cowen reiterated a “buy” rating and issued a $82.00 price target on shares of Restaurant Brands International in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.04.

Insider Transactions at Restaurant Brands International

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total value of $448,565.68. Following the transaction, the insider now owns 37,179 shares of the company’s stock, valued at approximately $2,551,594.77. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 37,179 shares of the company’s stock, valued at approximately $2,551,594.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Axel Mr Schwan sold 36,000 shares of Restaurant Brands International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total transaction of $2,535,840.00. Following the transaction, the insider now directly owns 97,479 shares in the company, valued at $6,866,420.76. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by 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.