Acadian Asset Management LLC buys 4,543 shares of Restaurant Brands International Inc. (NYSE:QSR)

VaselineSeptember 17, 2024

0 5 minutes read

Acadian Asset Management LLC raised its stake in shares of Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) by 40.9% during the second quarter, HoldingsChannel.com reports. The firm owned 15,643 shares of the restaurant operator’s stock after purchasing an additional 4,543 shares during the quarter. Acadian Asset Management LLC’s holdings in Restaurant Brands International were worth $1,100,000 as of its most recent SEC filing.

Other institutional investors have added to or reduced their stakes in the company. Greystone Financial Group LLC boosted its holdings in shares of Restaurant Brands International by 42.8% in the second quarter. Greystone Financial Group LLC now owns 139,437 shares of the restaurant operator’s stock worth $9,812,000 after buying an additional 41,786 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Restaurant Brands International by 27.4% in the second quarter. National Bank of Canada FI now owns 1,887,274 shares of the restaurant operator’s stock worth $132,260,000 after purchasing an additional 406,038 shares during the period. Chase Investment Counsel Corp grew its position in shares of Restaurant Brands International by 7.9% in the second quarter. Chase Investment Counsel Corp now owns 5,439 shares of the restaurant operator’s stock worth $380,000 after buying an additional 396 shares during the last quarter. Novare Capital Management LLC boosted its stake in Restaurant Brands International by 2.9% in the second quarter. Novare Capital Management LLC now owns 93,490 shares of the restaurant operator’s stock worth $6,579,000 after purchasing an additional 2,618 shares during the period. Finally, Fiduciary Family Office LLC grew its position in Restaurant Brands International by 6.6% in the second quarter. Fiduciary Family Office LLC now owns 17,030 shares of the restaurant operator’s stock worth $1,198,000 after purchasing an additional 1,051 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s shares.

International trading of restaurant brands up 1.1%

NYSE QSR opened at $69.92 on Tuesday. The stock has a market cap of $22.15 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.08 and a beta of 0.93. Restaurant Brands International Inc. it has a fifty-two week low of $61.77 and a fifty-two week high of $83.29. The stock has a 50 day simple moving average of $70.28 and a two hundred day simple moving average of $72.17. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.71, and a current ratio of 0.78.

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Restaurant Brands International (NYSE:QSR – Get Your Free Report ) (TSE:QSR) last announced its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. On average, analysts estimate that Restaurant Brands International Inc. will post 3.36 earnings per share for the current year.

Restaurant Brands International announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a dividend of $0.58 per share. This represents a dividend of $2.32 on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, September 20. Restaurant Brands International’s payout ratio is 59.79%.

The Wall Street analyst weighs in

Several research analysts recently weighed in on the stock. Goldman Sachs Group initiated coverage on shares of Restaurant Brands International in a research report on Thursday, June 13th. They issued a “buy” rating and a $80.00 price objective on the stock. Guggenheim raised their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. KeyCorp cut their price target on shares of Restaurant Brands International from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Piper Sandler cut their price target 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, JPMorgan Chase & Co. boosted their price objective on Restaurant Brands International from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Moderate Buy” and an average target price of $83.11, according to MarketBeat .

See our latest report on Restaurant Brands International

Internal activity at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 97,479 shares in the company, valued at $6,866,420.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other news, insider Axel Schwan sold 36,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total value of $2,535,840.00. Following the completion of the transaction, the insider now owns 97,479 shares of the company’s stock, valued at approximately $6,866,420.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 37,179 shares of the company’s stock, valued at approximately $2,551,594.77. The disclosure for this sale can be found here. 1.36% of shares are owned by corporate insiders.

About Restaurant Brands International

(Free report)

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 the TH chain of donut/coffee/tea restaurants offering hot and cold espresso-based coffee, tea and specialty beverage blends; and fresh baked goods including donuts, timbits, bagels, muffins, cakes and pastries, grilled paninis, classic sandwiches, wraps, soups and other food items.