Iridian Asset Management LLC CT Increases Stock Position in Restaurant Brands International Inc. (NYSE:QSR)

Iridian Asset Management LLC CT grew its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 21.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,838 shares of the restaurant operator's stock after acquiring an additional 11,117 shares during the period. Restaurant Brands International accounts for about 1.0% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 29th biggest position. Iridian Asset Management LLC CT's holdings in Restaurant Brands International were worth $4,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital World Investors boosted its stake in shares of Restaurant Brands International by 1.1% in the 1st quarter. Capital World Investors now owns 42,711,485 shares of the restaurant operator's stock valued at $3,393,264,000 after purchasing an additional 466,929 shares during the last quarter. Vanguard Group Inc. lifted its stake in Restaurant Brands International by 1.2% in the first quarter. Vanguard Group Inc. now owns 12,146,626 shares of the restaurant operator's stock valued at $965,049,000 after buying an additional 141,468 shares during the period. EdgePoint Investment Group Inc. grew its position in shares of 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 worth $811,907,000 after buying an additional 536,124 shares during the period. 1832 Asset Management L.P. boosted its stake in Restaurant Brands International by 15.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator's stock worth $403,398,000 after acquiring an additional 773,783 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Restaurant Brands International by 10.3% in the second quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator's stock worth $390,678,000 after purchasing an additional 518,795 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of Restaurant Brands International 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 completion of the sale, the insider now directly owns 97,479 shares of the company's stock, valued at approximately $6,866,420.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Restaurant Brands International 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 transaction of $2,535,840.00. Following the transaction, the insider now owns 97,479 shares in the company, valued at approximately $6,866,420.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $448,565.68. Following the completion of the transaction, the insider now directly owns 37,179 shares in the company, valued at $2,551,594.77. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Restaurant Brands International Trading Down 0.7 %

NYSE QSR traded down $0.52 on Thursday, hitting $69.59. The company's stock had a trading volume of 1,068,679 shares, compared to its average volume of 1,574,851. The firm has a market cap of $22.05 billion, a PE ratio of 17.97, a PEG ratio of 2.12 and a beta of 0.94. Restaurant Brands International Inc. has a 1-year low of $65.51 and a 1-year high of $83.29. The company's 50-day moving average is $70.31 and its 200 day moving average is $70.60. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 2.71.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, beating the consensus estimate of $0.85 by $0.01. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.05 billion. As a group, analysts predict that Restaurant Brands International Inc. will post 3.37 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were issued a $0.58 dividend. The ex-dividend date was Friday, September 20th. This represents a $2.32 dividend on an annualized basis and a yield of 3.33%. Restaurant Brands International's payout ratio is currently 59.79%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Restaurant Brands International from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Citigroup boosted their price objective on Restaurant Brands International from $75.00 to $77.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Stifel Nicolaus dropped their target price on shares of Restaurant Brands International from $80.00 to $77.00 and set a "hold" rating on the stock in a report on Tuesday, August 13th. Wells Fargo & Company reduced their price target on shares of Restaurant Brands International from $80.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Finally, Piper Sandler cut their price objective on shares of 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Restaurant Brands International currently has an average rating of "Moderate Buy" and a consensus target price of $83.15.

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.