Restaurant Brands International Inc. (NYSE:QSR) Stake Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,334 shares of the restaurant operator’s stock after selling 872 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Restaurant Brands International were worth $1,106,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. D1 Capital Partners L.P. acquired a new position in shares of Restaurant Brands International in the 2nd quarter valued at about $200,097,000. Canada Pension Plan Investment Board lifted its holdings in Restaurant Brands International by 31.4% in the second quarter. Canada Pension Plan Investment Board now owns 3,490,157 shares of the restaurant operator’s stock worth $245,881,000 after acquiring an additional 835,000 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Restaurant Brands International by 15.6% in 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 acquiring an additional 773,783 shares during the period. EdgePoint Investment Group Inc. grew its holdings in shares of 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 purchasing an additional 536,124 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Restaurant Brands International by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock worth $390,678,000 after purchasing an additional 518,795 shares during the period. Institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Price Performance

Shares of NYSE QSR opened at $70.18 on Thursday. The firm has a 50-day moving average of $70.25 and a two-hundred day moving average of $69.98. The company has a market capitalization of $22.72 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.27 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 0.94 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.

Restaurant Brands International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QSR. Evercore ISI lowered their price objective on 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. Truist Financial lowered their price target on shares of 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. CIBC cut their price objective on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating on the stock in a research report on Wednesday, November 6th. Argus decreased their target price on shares of Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Stifel Nicolaus cut their price target on Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.37.

Insiders Place Their Bets

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’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 completion of the sale, the insider now directly owns 37,179 shares of the company’s stock, valued at $2,551,594.77. This represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.36% of the stock is currently owned by company 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.