Restaurant Brands International Inc. (NYSE:QSR) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 282.6% in the third quarter, Holdings Channel.com reports. The fund owned 1,465,709 shares of the restaurant operator’s stock after purchasing an additional 1,082,622 shares during the period. Point72 Asset Management L.P.’s holdings in Restaurant Brands International were worth $105,707,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. D1 Capital Partners L.P. acquired a new position in Restaurant Brands International during the second quarter worth $200,097,000. Holocene Advisors LP acquired a new position in shares of Restaurant Brands International during the 3rd quarter worth $89,790,000. Canada Pension Plan Investment Board boosted its position in shares of Restaurant Brands International by 31.4% in 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. grew its stake in 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 valued at $403,398,000 after acquiring an additional 773,783 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in Restaurant Brands International by 4.9% during the 2nd 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. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Trading Up 1.5 %

Shares of QSR stock opened at $70.78 on Wednesday. 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 fifty-two week low of $65.87 and a fifty-two week high of $83.29. The firm’s 50 day moving average price is $70.20 and its two-hundred day moving average price is $69.93. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be issued a $0.58 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.32 annualized dividend and a yield of 3.28%. Restaurant Brands International’s dividend payout ratio is currently 58.15%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Citigroup increased their target price on Restaurant Brands International from $75.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. TD Cowen dropped their price target on Restaurant Brands International from $82.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Piper Sandler reduced 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. Finally, Oppenheimer dropped their price objective on Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.