Intact Investment Management Inc. Has $62.40 Million Stake in Restaurant Brands International Inc. (NYSE:QSR)

Intact Investment Management Inc. grew its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 864,764 shares of the restaurant operator’s stock after acquiring an additional 107,520 shares during the period. Restaurant Brands International comprises about 2.1% of Intact Investment Management Inc.’s portfolio, making the stock its 10th largest holding. Intact Investment Management Inc. owned 0.27% of Restaurant Brands International worth $62,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its holdings in shares of Restaurant Brands International by 5.1% during the 1st quarter. Bleakley Financial Group LLC now owns 3,201 shares of the restaurant operator’s stock worth $254,000 after buying an additional 154 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Restaurant Brands International by 4.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,158 shares of the restaurant operator’s stock worth $293,000 after buying an additional 160 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Restaurant Brands International by 79.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 418 shares of the restaurant operator’s stock worth $30,000 after buying an additional 185 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Restaurant Brands International by 22.2% during the 1st quarter. BNP Paribas Financial Markets now owns 1,117 shares of the restaurant operator’s stock worth $89,000 after buying an additional 203 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Restaurant Brands International by 2.8% during the 1st quarter. US Bancorp DE now owns 9,352 shares of the restaurant operator’s stock worth $743,000 after buying an additional 256 shares during the period. Institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Trading Up 0.6 %

QSR opened at $69.98 on Monday. Restaurant Brands International Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $83.29. The company has a debt-to-equity ratio of 2.71, a current ratio of 0.78 and a quick ratio of 0.71. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.08 and a beta of 0.94. The company’s 50 day moving average price is $70.27 and its two-hundred day moving average price is $70.58.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. As a group, research analysts predict that Restaurant Brands International Inc. will post 3.37 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, September 20th. Restaurant Brands International’s dividend payout ratio is currently 58.15%.

Analyst Ratings Changes

Several brokerages recently commented on QSR. Citigroup lifted their target price on shares of Restaurant Brands International from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Guggenheim lifted their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Morgan Stanley dropped their price objective on shares of Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Piper Sandler dropped their price objective 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. Finally, TD Cowen reiterated a “buy” rating and issued a $82.00 price objective on shares of Restaurant Brands International in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.15.

Insider Activity

In other news, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $70.44, for a total value of $2,535,840.00. Following the sale, the insider now directly owns 97,479 shares of the company’s stock, valued at approximately $6,866,420.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total value of $448,565.68. Following the completion of the sale, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Axel Mr Schwan sold 36,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total transaction of $2,535,840.00. Following the completion of the sale, the insider now owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Restaurant Brands International Company 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.