Bank of Nova Scotia Sells 510,326 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Bank of Nova Scotia cut its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 29.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,218,384 shares of the restaurant operator's stock after selling 510,326 shares during the quarter. Bank of Nova Scotia owned about 0.38% of Restaurant Brands International worth $79,398,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in Restaurant Brands International by 213.6% in the 4th quarter. Venturi Wealth Management LLC now owns 461 shares of the restaurant operator's stock valued at $30,000 after purchasing an additional 314 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Restaurant Brands International during the fourth quarter worth approximately $32,000. IFP Advisors Inc lifted its position in shares of Restaurant Brands International by 183.9% in the fourth quarter. IFP Advisors Inc now owns 636 shares of the restaurant operator's stock valued at $41,000 after buying an additional 412 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new stake in shares of Restaurant Brands International in the fourth quarter valued at approximately $60,000. Finally, Crewe Advisors LLC bought a new position in shares of Restaurant Brands International during the 4th quarter worth approximately $74,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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Restaurant Brands International Stock Performance

NYSE:QSR traded up $0.02 during trading hours on Monday, reaching $62.91. The company had a trading volume of 272,838 shares, compared to its average volume of 1,836,317. The firm's 50 day moving average price is $65.31 and its 200-day moving average price is $66.69. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.77 and a beta of 0.72. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $77.24.

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

Restaurant Brands International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.94%. This is an increase from Restaurant Brands International's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, March 21st. Restaurant Brands International's dividend payout ratio (DPR) is presently 77.99%.

Insider Activity at Restaurant Brands International

In other news, CEO Joshua Kobza sold 93,619 shares of the firm'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 $5,837,144.65. Following the completion of the transaction, the chief executive officer now owns 848,578 shares in the company, valued at $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 SEC, which is available at the SEC website. Also, CFO Sami A. Siddiqui sold 12,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $68.12, for a total value of $851,500.00. Following the transaction, the chief financial officer now owns 235,228 shares of the company's stock, valued at $16,023,731.36. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,716 shares of company stock worth $17,740,281. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QSR shares. Jefferies Financial Group reduced their price objective on shares of Restaurant Brands International from $73.00 to $67.00 and set an "equal weight" rating for the company in a research report on Thursday, January 30th. CIBC reduced their target price on shares of Restaurant Brands International from $86.00 to $78.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Oppenheimer lowered their price target on shares of Restaurant Brands International from $86.00 to $77.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Barclays reduced their price objective on Restaurant Brands International from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Finally, Loop Capital reiterated a "buy" rating on shares of Restaurant Brands International in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.63.

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.