New York State Common Retirement Fund Acquires 66,600 Shares of Restaurant Brands International Inc. $QSR

New York State Common Retirement Fund lifted its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 51.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,100 shares of the restaurant operator’s stock after buying an additional 66,600 shares during the quarter. New York State Common Retirement Fund’s holdings in Restaurant Brands International were worth $12,578,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new stake in Restaurant Brands International during the third quarter worth about $29,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Restaurant Brands International during the second quarter valued at approximately $35,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Restaurant Brands International in the 2nd quarter worth approximately $36,000. Exchange Traded Concepts LLC purchased a new stake in shares of Restaurant Brands International in the 3rd quarter worth approximately $48,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Restaurant Brands International by 41.0% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,032 shares of the restaurant operator’s stock valued at $66,000 after buying an additional 300 shares in the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Restaurant Brands International news, insider Jill Granat sold 1,925 shares of Restaurant Brands International stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $67.44, for a total value of $129,822.00. Following the completion of the sale, the insider owned 458,280 shares of the company’s stock, valued at approximately $30,906,403.20. The trade was a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter Perdue sold 396 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $67.44, for a total value of $26,706.24. Following the transaction, the insider directly owned 36,997 shares in the company, valued at $2,495,077.68. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 145,508 shares of company stock valued at $10,233,040 in the last ninety days. Corporate insiders own 1.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on QSR shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $82.00 target price on shares of Restaurant Brands International in a report on Tuesday, December 9th. Scotiabank upped their price target on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Oppenheimer restated an “outperform” rating and set a $80.00 price objective on shares of Restaurant Brands International in a research note on Tuesday, November 25th. Argus raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, December 2nd. Finally, Citigroup increased their price target on shares of Restaurant Brands International from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Restaurant Brands International presently has a consensus rating of “Hold” and an average price target of $77.05.

Restaurant Brands International Price Performance

QSR opened at $66.96 on Tuesday. The company’s 50-day simple moving average is $69.54 and its two-hundred day simple moving average is $67.45. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.98 and a current ratio of 1.06. The stock has a market capitalization of $23.19 billion, a P/E ratio of 23.83, a P/E/G ratio of 2.43 and a beta of 0.58. Restaurant Brands International Inc. has a 52-week low of $58.71 and a 52-week high of $73.70.

Restaurant Brands International Company 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.