Cadence Bank Has $5.22 Million Stock Position in Restaurant Brands International Inc. (NYSE:QSR)

Cadence Bank decreased its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 54.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,371 shares of the restaurant operator’s stock after selling 85,434 shares during the quarter. Cadence Bank’s holdings in Restaurant Brands International were worth $5,219,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. D1 Capital Partners L.P. purchased a new position in Restaurant Brands International during the second quarter worth about $200,097,000. Canada Pension Plan Investment Board lifted its position in shares of Restaurant Brands International by 31.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,490,157 shares of the restaurant operator’s stock worth $245,881,000 after buying an additional 835,000 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Restaurant Brands International by 15.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock worth $403,398,000 after buying an additional 773,783 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Restaurant Brands International by 4.9% in 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 acquiring an additional 536,124 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Restaurant Brands International by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock valued at $390,678,000 after acquiring an additional 518,795 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Wall Street Analyst Weigh In

QSR has been the topic of several research analyst reports. Piper Sandler cut their price objective on Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus cut their price target on shares of Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, November 14th. Evercore ISI reduced their price target on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Restaurant Brands International from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada dropped their target price on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.37.

Restaurant Brands International Price Performance

Restaurant Brands International stock opened at $69.21 on Wednesday. The business has a 50-day simple moving average of $70.23 and a 200 day simple moving average of $69.98. Restaurant Brands International Inc. has a 52 week low of $65.87 and a 52 week high of $83.29. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.24 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, December 20th. This represents a $2.32 annualized dividend and a yield of 3.35%. Restaurant Brands International’s payout ratio is presently 58.15%.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the sale, the insider now owns 37,179 shares in the company, valued at $2,551,594.77. This trade represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Restaurant Brands International Profile

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.