Restaurant Brands International Inc. (NYSE:QSR) Short Interest Down 19.5% in October

Restaurant Brands International Inc. (NYSE:QSR - Get Free Report) TSE: QSR was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 5,380,000 shares, a decline of 19.5% from the October 15th total of 6,680,000 shares. Currently, 1.7% of the company's shares are sold short. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QSR shares. Bank of America upped their price target on shares of Restaurant Brands International from $76.00 to $77.00 and gave the stock an "underperform" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Restaurant Brands International from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Oppenheimer decreased their price target on shares of Restaurant Brands International from $89.00 to $86.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price objective on shares of Restaurant Brands International from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen reduced their target price on Restaurant Brands International from $82.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $82.37.

Insider Activity

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction dated 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 sale, the insider now owns 37,179 shares in the company, valued at $2,551,594.77. This trade represents a 14.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Axel Mr Schwan sold 36,000 shares of the business's stock in a transaction that occurred 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 owns 97,479 shares of the company's stock, valued at $6,866,420.76. The trade was a 26.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company's stock.

Hedge Funds Weigh In On Restaurant Brands International

Several hedge funds and other institutional investors have recently made changes to their positions in QSR. D1 Capital Partners L.P. acquired a new position in Restaurant Brands International in the 2nd quarter valued at $200,097,000. Holocene Advisors LP purchased a new stake in shares of Restaurant Brands International during the third quarter worth $89,790,000. Canada Pension Plan Investment Board raised its position in shares of Restaurant Brands International by 72.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,655,157 shares of the restaurant operator's stock valued at $211,059,000 after buying an additional 1,119,582 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Restaurant Brands International by 282.6% in the third quarter. Point72 Asset Management L.P. now owns 1,465,709 shares of the restaurant operator's stock worth $105,707,000 after buying an additional 1,082,622 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in Restaurant Brands International by 15.6% during the second 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. Hedge funds and other institutional investors own 82.29% of the company's stock.

Restaurant Brands International Price Performance

QSR stock traded down $1.08 during mid-day trading on Friday, reaching $67.39. 889,900 shares of the company's stock were exchanged, compared to its average volume of 1,582,850. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94. Restaurant Brands International has a 12-month low of $65.87 and a 12-month high of $83.29. The stock's 50 day moving average is $70.13 and its 200 day moving average is $70.32. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, December 20th. Restaurant Brands International's dividend payout ratio is presently 58.15%.

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.