Meritage Group LP Purchases Shares of 56,000 Restaurant Brands International Inc. (NYSE:QSR)

Meritage Group LP bought a new position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 56,000 shares of the restaurant operator's stock, valued at approximately $4,039,000. Restaurant Brands International accounts for about 0.1% of Meritage Group LP's investment portfolio, making the stock its 22nd largest position.

Other hedge funds have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Restaurant Brands International during the third quarter valued at about $1,153,000. MML Investors Services LLC raised its stake in Restaurant Brands International by 5.5% during the 3rd quarter. MML Investors Services LLC now owns 9,066 shares of the restaurant operator's stock worth $654,000 after buying an additional 476 shares during the period. XTX Topco Ltd bought a new position in Restaurant Brands International in the third quarter worth approximately $375,000. National Bank of Canada FI grew its stake in Restaurant Brands International by 68.6% in the third quarter. National Bank of Canada FI now owns 3,181,459 shares of the restaurant operator's stock valued at $229,545,000 after acquiring an additional 1,294,185 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in Restaurant Brands International in the third quarter valued at approximately $206,000. 82.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on QSR. CIBC reduced their price target on shares of Restaurant Brands International from $88.00 to $86.00 and set an "outperformer" rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on shares of Restaurant Brands International from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Evercore ISI lowered their target price on shares of Restaurant Brands International from $93.00 to $90.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Stifel Nicolaus cut their price target on Restaurant Brands International from $77.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, November 14th. Finally, Argus lowered their price objective on Restaurant Brands International from $85.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $82.27.

Restaurant Brands International Stock Performance

Shares of Restaurant Brands International stock traded up $1.49 during trading hours on Monday, reaching $70.48. The company had a trading volume of 1,512,815 shares, compared to its average volume of 1,582,434. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.02 and a quick ratio of 0.94. Restaurant Brands International Inc. has a one year low of $65.87 and a one year high of $83.29. The firm has a market cap of $22.82 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93. The business has a fifty day simple moving average of $70.16 and a 200 day simple moving average of $69.95.

Restaurant Brands International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, December 20th. Restaurant Brands International's payout ratio is 58.15%.

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.