Restaurant Brands International Inc. (NYSE:QSR) Stock Holdings Cut by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,038 shares of the restaurant operator’s stock after selling 1,200 shares during the quarter. Investment Management Corp of Ontario’s holdings in Restaurant Brands International were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of QSR. D1 Capital Partners L.P. purchased a new position in Restaurant Brands International in the 2nd quarter worth about $200,097,000. Holocene Advisors LP purchased a new stake in shares of Restaurant Brands International in the third quarter valued at $89,790,000. Canada Pension Plan Investment Board boosted its position in shares of Restaurant Brands International by 31.4% in the second 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 during the period. 1832 Asset Management L.P. grew its holdings in shares of Restaurant Brands International by 15.6% during the second quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after buying an additional 773,783 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in Restaurant Brands International by 4.9% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock worth $811,907,000 after acquiring an additional 536,124 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Restaurant Brands International Price Performance

NYSE:QSR opened at $69.73 on Friday. The firm has a market cap of $22.57 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. The company’s 50-day moving average price is $70.21 and its two-hundred day moving average price is $69.94. 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 Inc. has a 12 month low of $65.87 and a 12 month high of $83.29.

Restaurant Brands International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s payout ratio is presently 58.15%.

Analysts Set New Price Targets

QSR has been the subject of several research reports. TD Cowen decreased their price target on shares of Restaurant Brands International from $82.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Citigroup increased their price objective on Restaurant Brands International from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Guggenheim upped their target price on Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on Restaurant Brands International from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Piper Sandler reduced their target price on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.27.

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.