Verition Fund Management LLC Sells 20,832 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Verition Fund Management LLC cut its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 36.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,314 shares of the restaurant operator's stock after selling 20,832 shares during the period. Verition Fund Management LLC's holdings in Restaurant Brands International were worth $2,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its position in shares of Restaurant Brands International by 8.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 232,216 shares of the restaurant operator's stock worth $16,748,000 after buying an additional 18,032 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Restaurant Brands International by 2.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 137,789 shares of the restaurant operator's stock worth $9,954,000 after acquiring an additional 3,167 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Restaurant Brands International in the 3rd quarter valued at approximately $2,432,000. Baupost Group LLC MA bought a new stake in shares of Restaurant Brands International during the 3rd quarter valued at approximately $2,041,000. Finally, BNP Paribas Financial Markets increased its position in Restaurant Brands International by 17.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,754 shares of the restaurant operator's stock worth $126,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 82.29% of the company's stock.

Restaurant Brands International Stock Down 1.6 %

Shares of QSR stock traded down $1.15 on Thursday, reaching $69.96. 842,950 shares of the company were exchanged, compared to its average volume of 1,580,970. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.02 and a quick ratio of 0.94. The company has a 50-day moving average of $70.23 and a 200-day moving average of $69.94. The company has a market cap of $22.65 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.30 and a beta of 0.93. Restaurant Brands International Inc. has a one year low of $65.87 and a one year high of $83.29.

Restaurant Brands International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.32 annualized dividend and a yield of 3.32%. Restaurant Brands International's payout ratio is currently 58.15%.

Analysts Set New Price Targets

QSR has been the topic of a number of research reports. CIBC decreased their target price on shares of Restaurant Brands International from $88.00 to $86.00 and set an "outperformer" rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped 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. Stifel Nicolaus cut their price target on Restaurant Brands International from $77.00 to $72.00 and set a "hold" rating on the stock in a research note on Thursday, November 14th. Citigroup upped their price objective on Restaurant Brands International from $75.00 to $77.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Finally, Truist Financial dropped their price objective on shares of Restaurant Brands International from $87.00 to $86.00 and set a "buy" rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.27.

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.