Westerkirk Capital Inc. Purchases New Shares in Restaurant Brands International Inc. $QSR

Westerkirk Capital Inc. acquired a new stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,590 shares of the restaurant operator’s stock, valued at approximately $1,100,000.

Several other hedge funds have also recently modified their holdings of QSR. Norges Bank bought a new position in shares of Restaurant Brands International in the second quarter valued at approximately $254,948,000. Davis Selected Advisers purchased a new position in Restaurant Brands International in the first quarter worth $224,744,000. Royal Bank of Canada boosted its position in Restaurant Brands International by 16.7% in the first quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator’s stock worth $1,507,839,000 after purchasing an additional 3,230,735 shares during the last quarter. Geode Capital Management LLC grew its stake in Restaurant Brands International by 112.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,296,050 shares of the restaurant operator’s stock valued at $286,172,000 after purchasing an additional 2,277,694 shares during the period. Finally, Invesco Ltd. increased its position in shares of Restaurant Brands International by 465.8% during the 1st quarter. Invesco Ltd. now owns 2,644,757 shares of the restaurant operator’s stock valued at $176,247,000 after purchasing an additional 2,177,302 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

Insider Buying and Selling

In related news, Chairman J Patrick Doyle sold 43,597 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $69.80, for a total value of $3,043,070.60. Following the sale, the chairman owned 193,855 shares in the company, valued at approximately $13,531,079. This trade represents a 18.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ali Hedayat sold 7,000 shares of Restaurant Brands International stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $72.77, for a total value of $509,390.00. Following the sale, the director directly owned 18,962 shares of the company’s stock, valued at $1,379,864.74. This represents a 26.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their target price on Restaurant Brands International from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada lowered their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Citigroup increased their target price on shares of Restaurant Brands International from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Restaurant Brands International in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $77.00 price objective on Restaurant Brands International in a research note on Tuesday, October 21st. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Restaurant Brands International has an average rating of “Hold” and an average target price of $75.23.

Restaurant Brands International Stock Down 0.4%

Restaurant Brands International stock opened at $71.34 on Wednesday. The firm has a 50 day simple moving average of $67.97 and a 200 day simple moving average of $67.25. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 2.65. Restaurant Brands International Inc. has a 1-year low of $58.71 and a 1-year high of $73.13. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.85 and a beta of 0.60.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Thursday, October 30th. The restaurant operator reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.03. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.39 billion. Restaurant Brands International had a return on equity of 32.43% and a net margin of 9.95%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. On average, analysts predict that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 23rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, December 23rd. Restaurant Brands International’s dividend payout ratio is presently 88.26%.

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.