Voya Investment Management LLC Lowers Stock Holdings in Restaurant Brands International Inc. $QSR
by Teresa Graham · The Cerbat GemVoya Investment Management LLC cut its stake in shares of Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) by 68.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,047 shares of the restaurant operator’s stock after selling 70,665 shares during the period. Voya Investment Management LLC’s holdings in Restaurant Brands International were worth $2,055,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Baskin Financial Services Inc. raised its stake in shares of Restaurant Brands International by 0.9% during the 3rd quarter. Baskin Financial Services Inc. now owns 349,803 shares of the restaurant operator’s stock worth $22,423,000 after buying an additional 3,180 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Restaurant Brands International in the third quarter valued at approximately $657,000. Nilsine Partners LLC acquired a new stake in Restaurant Brands International during the 3rd quarter valued at $909,000. Osaic Holdings Inc. increased its position in Restaurant Brands International by 40.8% during the 2nd quarter. Osaic Holdings Inc. now owns 19,701 shares of the restaurant operator’s stock worth $1,308,000 after purchasing an additional 5,704 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its holdings in shares of Restaurant Brands International by 47.1% during the second quarter. Orion Porfolio Solutions LLC now owns 34,576 shares of the restaurant operator’s stock worth $2,292,000 after buying an additional 11,074 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Insider Transactions at Restaurant Brands International
In other Restaurant Brands International news, insider Jacqueline Friesner sold 1,886 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $70.87, for a total transaction of $133,660.82. Following the completion of the transaction, the insider directly owned 184,057 shares of the company’s stock, valued at $13,044,119.59. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sami A. Siddiqui sold 10,913 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $70.87, for a total transaction of $773,404.31. Following the completion of the transaction, the chief financial officer owned 10,609 shares of the company’s stock, valued at approximately $751,859.83. This trade represents a 50.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 131,807 shares of company stock valued at $9,308,973 over the last three months. 1.25% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. Morgan Stanley set a $77.00 price objective on Restaurant Brands International in a research report on Tuesday, October 21st. Northcoast Research downgraded shares of Restaurant Brands International from a “buy” rating to a “neutral” rating in a research note on Friday, September 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Restaurant Brands International in a report on Wednesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price target on shares of Restaurant Brands International in a research note on Tuesday, November 25th. Finally, Citigroup upped their target price on Restaurant Brands International from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Ten equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.45.
Restaurant Brands International Stock Up 0.5%
Shares of NYSE:QSR opened at $69.90 on Monday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.98 and a current ratio of 1.06. Restaurant Brands International Inc. has a 1-year low of $58.71 and a 1-year high of $73.70. The company’s fifty day moving average is $69.36 and its two-hundred day moving average is $67.25. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.
Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last issued its earnings results on Thursday, October 30th. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.03. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Restaurant Brands International had a net margin of 9.95% and a return on equity of 32.43%. Restaurant Brands International’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.93 earnings per share. Equities analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.
Restaurant Brands International Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 23rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, December 23rd. Restaurant Brands International’s dividend payout ratio is presently 88.26%.
Restaurant Brands International Profile
Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.
RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.
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