Legal & General Group Plc Has $97.62 Million Stake in Restaurant Brands International Inc. (NYSE:QSR)

Legal & General Group Plc cut its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 22.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,498,494 shares of the restaurant operator's stock after selling 438,971 shares during the quarter. Legal & General Group Plc owned 0.46% of Restaurant Brands International worth $97,618,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of QSR. Vanguard Group Inc. increased its stake in Restaurant Brands International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 13,165,498 shares of the restaurant operator's stock valued at $858,101,000 after purchasing an additional 421,873 shares in the last quarter. Norges Bank bought a new position in Restaurant Brands International during the fourth quarter worth about $264,813,000. Geode Capital Management LLC grew its stake in Restaurant Brands International by 33.9% in the fourth quarter. Geode Capital Management LLC now owns 1,847,805 shares of the restaurant operator's stock valued at $123,137,000 after acquiring an additional 467,958 shares during the period. Bank of New York Mellon Corp raised its position in shares of Restaurant Brands International by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,331,392 shares of the restaurant operator's stock worth $86,780,000 after purchasing an additional 68,456 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Restaurant Brands International by 165.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,148,850 shares of the restaurant operator's stock valued at $74,802,000 after purchasing an additional 715,754 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Restaurant Brands International

In related news, CEO Joshua Kobza sold 93,619 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.35, for a total value of $5,837,144.65. Following the transaction, the chief executive officer now owns 848,578 shares in the company, valued at approximately $52,908,838.30. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sami A. Siddiqui sold 18,477 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.35, for a total transaction of $1,152,040.95. Following the sale, the chief financial officer now directly owns 55,761 shares of the company's stock, valued at $3,476,698.35. This represents a 24.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 278,716 shares of company stock valued at $17,740,281 in the last three months. Corporate insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QSR. Truist Financial cut their price target on shares of Restaurant Brands International from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. TD Cowen cut Restaurant Brands International from a "buy" rating to a "hold" rating and set a $70.00 target price on the stock. in a research note on Friday, February 14th. Oppenheimer reduced their target price on shares of Restaurant Brands International from $86.00 to $77.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Barclays reduced their price objective on shares of Restaurant Brands International from $83.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley reduced their price target on Restaurant Brands International from $81.00 to $73.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $76.63.

Restaurant Brands International Stock Performance

Shares of Restaurant Brands International stock traded down $0.53 during trading on Tuesday, reaching $62.46. The company's stock had a trading volume of 966,036 shares, compared to its average volume of 1,838,817. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75. The business's 50-day moving average price is $65.32 and its 200-day moving average price is $66.63. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $77.24. The firm has a market cap of $20.44 billion, a PE ratio of 19.64, a P/E/G ratio of 1.77 and a beta of 0.72.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its quarterly earnings data on Wednesday, February 12th. The restaurant operator reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.29). Restaurant Brands International had a net margin of 12.15% and a return on equity of 28.53%. Equities analysts forecast that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, March 21st. This is a positive change from Restaurant Brands International's previous quarterly dividend of $0.58. Restaurant Brands International's dividend payout ratio (DPR) is 77.99%.

About Restaurant Brands International

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.