Cordasco Financial Network Boosts Stock Position in Restaurant Brands International Inc. (NYSE:QSR)

Cordasco Financial Network boosted its holdings in shares of Restaurant Brands International Inc. (NYSE:QSRGet Rating) (TSE:QSR) by 23.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,303 shares of the restaurant operator’s stock after acquiring an additional 635 shares during the quarter. Cordasco Financial Network’s holdings in Restaurant Brands International were worth $166,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. purchased a new position in Restaurant Brands International during the 1st quarter valued at $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Restaurant Brands International during the 1st quarter valued at $402,000. Sei Investments Co. raised its position in Restaurant Brands International by 2.8% during the 1st quarter. Sei Investments Co. now owns 606,048 shares of the restaurant operator’s stock valued at $35,394,000 after purchasing an additional 16,781 shares in the last quarter. LPL Financial LLC raised its position in Restaurant Brands International by 27.1% during the 4th quarter. LPL Financial LLC now owns 84,423 shares of the restaurant operator’s stock valued at $5,123,000 after purchasing an additional 18,018 shares in the last quarter. Finally, Simcoe Capital Management LLC bought a new stake in Restaurant Brands International during the 4th quarter valued at $8,537,000. Hedge funds and other institutional investors own 78.50% of the company’s stock.

Restaurant Brands International Stock Down 1.9 %

Shares of NYSE QSR traded down $1.08 during mid-day trading on Thursday, hitting $56.41. The company had a trading volume of 1,330,193 shares, compared to its average volume of 1,427,358. Restaurant Brands International Inc. has a 1-year low of $46.68 and a 1-year high of $63.33. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.89 and a quick ratio of 0.82. The company has a market capitalization of $17.27 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The business’s 50-day simple moving average is $57.55 and its 200 day simple moving average is $55.29.

Restaurant Brands International (NYSE:QSRGet Rating) (TSE:QSR) last posted its quarterly earnings results on Thursday, August 4th. The restaurant operator reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.09. Restaurant Brands International had a return on equity of 34.39% and a net margin of 13.36%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.77 earnings per share. Restaurant Brands International’s quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts predict that Restaurant Brands International Inc. will post 3.03 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 21st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, September 20th. Restaurant Brands International’s dividend payout ratio is presently 82.44%.

Insider Transactions at Restaurant Brands International

In other news, CFO Matthew Dunnigan sold 15,000 shares of Restaurant Brands International stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $58.97, for a total transaction of $884,550.00. Following the sale, the chief financial officer now owns 41,449 shares in the company, valued at $2,444,247.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QSR. Sanford C. Bernstein began coverage on Restaurant Brands International in a research report on Wednesday, September 7th. They set a “market perform” rating and a $64.00 target price for the company. Piper Sandler decreased their target price on Restaurant Brands International from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, July 11th. Cowen lifted their target price on Restaurant Brands International from $62.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 5th. Royal Bank of Canada boosted their price target on Restaurant Brands International from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Restaurant Brands International from $64.00 to $70.00 in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.71.

About Restaurant Brands International

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Restaurant Brands International Inc operates as quick service restaurant company in Canada 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 others.

See Also

Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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