CIBC Asset Management Inc Has $90.37 Million Stock Position in Restaurant Brands International Inc. $QSR

CIBC Asset Management Inc decreased its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 38.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,317,198 shares of the restaurant operator’s stock after selling 839,140 shares during the period. CIBC Asset Management Inc’s holdings in Restaurant Brands International were worth $90,369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of QSR. Lloyd Advisory Services LLC. acquired a new stake in Restaurant Brands International during the 4th quarter worth approximately $25,000. Larson Financial Group LLC raised its holdings in Restaurant Brands International by 1,922.2% during the 4th quarter. Larson Financial Group LLC now owns 364 shares of the restaurant operator’s stock worth $25,000 after buying an additional 346 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Restaurant Brands International during the 4th quarter worth approximately $29,000. Global Retirement Partners LLC raised its holdings in Restaurant Brands International by 231.1% during the 4th quarter. Global Retirement Partners LLC now owns 970 shares of the restaurant operator’s stock worth $66,000 after buying an additional 677 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Restaurant Brands International by 195.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,067 shares of the restaurant operator’s stock worth $73,000 after buying an additional 706 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Restaurant Brands International news, insider Jacqueline Friesner sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $74.61, for a total transaction of $2,238,300.00. Following the completion of the sale, the insider directly owned 165,727 shares in the company, valued at $12,364,891.47. This trade represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joshua Kobza sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $75.05, for a total transaction of $15,010,000.00. Following the sale, the chief executive officer owned 960,769 shares of the company’s stock, valued at $72,105,713.45. This trade represents a 17.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 350,000 shares of company stock valued at $26,198,650. Company insiders own 1.22% of the company’s stock.

Restaurant Brands International Trading Down 1.7%

Shares of NYSE:QSR opened at $71.61 on Wednesday. The company has a 50-day simple moving average of $76.74 and a 200 day simple moving average of $72.29. Restaurant Brands International Inc. has a 52-week low of $61.33 and a 52-week high of $81.96. The company has a market capitalization of $24.87 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 1.89 and a beta of 0.49. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Sell-side analysts forecast that Restaurant Brands International Inc. will post 4.07 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.60 annualized dividend and a yield of 3.6%. Restaurant Brands International’s dividend payout ratio (DPR) is 91.55%.

Analyst Upgrades and Downgrades

QSR has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Restaurant Brands International from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Morgan Stanley upped their target price on shares of Restaurant Brands International from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. BMO Capital Markets reduced their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Weiss Ratings raised shares of Restaurant Brands International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Finally, Piper Sandler raised shares of Restaurant Brands International from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $71.00 to $84.00 in a research note on Monday, March 2nd. Seventeen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.54.

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.