Vestcor Inc Takes $1.10 Million Position in Restaurant Brands International Inc. (NYSE:QSR)

Vestcor Inc bought a new position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,300 shares of the restaurant operator's stock, valued at approximately $1,103,000.

Several other hedge funds have also modified their holdings of QSR. Sumitomo Life Insurance Co. purchased a new position in Restaurant Brands International during the 2nd quarter worth $666,000. Dimensional Fund Advisors LP grew its stake in shares of Restaurant Brands International by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 650,486 shares of the restaurant operator's stock worth $45,772,000 after acquiring an additional 10,855 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Restaurant Brands International by 42.0% during the second quarter. Raymond James & Associates now owns 77,669 shares of the restaurant operator's stock valued at $5,466,000 after acquiring an additional 22,981 shares in the last quarter. Fiera Capital Corp raised its position in shares of Restaurant Brands International by 6.5% in the 2nd quarter. Fiera Capital Corp now owns 3,517,417 shares of the restaurant operator's stock valued at $247,955,000 after purchasing an additional 213,877 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Restaurant Brands International by 36.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 600,000 shares of the restaurant operator's stock worth $42,270,000 after purchasing an additional 160,000 shares in the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports 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 company an "underperform" rating in a research note on Tuesday, October 22nd. Argus reduced their target price on Restaurant Brands International from $85.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. CIBC dropped their price target on 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. Citigroup raised their price objective on Restaurant Brands International from $75.00 to $77.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Finally, Evercore ISI dropped their target price on Restaurant Brands International from $93.00 to $90.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, Restaurant Brands International currently has a consensus rating of "Moderate Buy" and an average target price of $82.27.

Insider Activity

In related news, insider Jill Granat sold 10,613 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $70.41, for a total transaction of $747,261.33. Following the completion of the sale, the insider now owns 388,759 shares of the company's stock, valued at approximately $27,372,521.19. This represents a 2.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.36% of the company's stock.

Restaurant Brands International Price Performance

QSR traded down $0.95 during midday trading on Friday, hitting $68.26. 2,275,914 shares of the company traded hands, compared to its average volume of 1,602,632. The business has a 50 day simple moving average of $69.98 and a two-hundred day simple moving average of $69.98. Restaurant Brands International Inc. has a 52-week low of $65.87 and a 52-week high of $83.29. The company has a market capitalization of $22.09 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.27 and a beta of 0.93. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, December 20th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.40%. Restaurant Brands International's payout ratio is currently 58.15%.

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.