Principal Financial Group Inc. Decreases Position in Restaurant Brands International Inc. (NYSE:QSR)

Principal Financial Group Inc. trimmed its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,568 shares of the restaurant operator’s stock after selling 800 shares during the quarter. Principal Financial Group Inc.’s holdings in Restaurant Brands International were worth $1,635,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of QSR. LPL Financial LLC boosted its position in Restaurant Brands International by 6.9% during the third quarter. LPL Financial LLC now owns 82,425 shares of the restaurant operator’s stock worth $5,491,000 after purchasing an additional 5,325 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Restaurant Brands International by 1.8% in the third quarter. Advisors Asset Management Inc. now owns 23,197 shares of the restaurant operator’s stock valued at $1,545,000 after acquiring an additional 417 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Restaurant Brands International by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 863,765 shares of the restaurant operator’s stock valued at $57,666,000 after acquiring an additional 13,857 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Restaurant Brands International by 7.6% in the third quarter. Legal & General Group Plc now owns 1,468,493 shares of the restaurant operator’s stock valued at $98,236,000 after acquiring an additional 103,692 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its position in shares of Restaurant Brands International by 67.6% in the third quarter. Dana Investment Advisors Inc. now owns 32,802 shares of the restaurant operator’s stock valued at $2,185,000 after acquiring an additional 13,229 shares in the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QSR has been the topic of several recent research reports. Scotiabank upped their price objective on Restaurant Brands International from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. TD Securities upped their price objective on Restaurant Brands International from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. KeyCorp reduced their price objective on Restaurant Brands International from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Piper Sandler reduced their price objective on Restaurant Brands International from $84.00 to $82.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Citigroup upped their price objective on Restaurant Brands International from $78.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.03.

Insider Transactions at Restaurant Brands International

In related news, CEO Joshua Kobza sold 246,196 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $75.17, for a total transaction of $18,506,553.32. Following the sale, the chief executive officer now owns 595,764 shares of the company’s stock, valued at $44,783,579.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ali Hedayat sold 8,537 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $74.75, for a total transaction of $638,140.75. Following the sale, the director now owns 22,881 shares of the company’s stock, valued at $1,710,354.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joshua Kobza sold 246,196 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $75.17, for a total value of $18,506,553.32. Following the completion of the transaction, the chief executive officer now directly owns 595,764 shares in the company, valued at approximately $44,783,579.88. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Restaurant Brands International Stock Down 0.1 %

NYSE:QSR traded down $0.06 during mid-day trading on Friday, reaching $69.87. The stock had a trading volume of 233,088 shares, compared to its average volume of 1,570,394. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92. Restaurant Brands International Inc. has a 1-year low of $61.77 and a 1-year high of $83.29. The stock’s 50 day simple moving average is $70.39 and its two-hundred day simple moving average is $74.68. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.08 and a quick ratio of 1.00.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Restaurant Brands International had a return on equity of 31.12% and a net margin of 17.17%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Restaurant Brands International Inc. will post 3.37 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 21st will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.32 annualized dividend and a dividend yield of 3.32%. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

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.