Primecap Management Co. CA Sells 15,000 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Primecap Management Co. CA trimmed its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 11.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,300 shares of the restaurant operator’s stock after selling 15,000 shares during the quarter. Primecap Management Co. CA’s holdings in Restaurant Brands International were worth $8,395,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Barometer Capital Management Inc. lifted its holdings in shares of Restaurant Brands International by 27,623.2% in the fourth quarter. Barometer Capital Management Inc. now owns 80,120 shares of the restaurant operator’s stock valued at $6,260,000 after purchasing an additional 79,831 shares in the last quarter. Royal Fund Management LLC acquired a new position in Restaurant Brands International during the 1st quarter worth approximately $1,067,000. Quantbot Technologies LP acquired a new position in Restaurant Brands International during the 1st quarter worth approximately $850,000. Oppenheimer & Co. Inc. grew its stake in shares of Restaurant Brands International by 16.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 74,421 shares of the restaurant operator’s stock worth $5,913,000 after acquiring an additional 10,544 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Restaurant Brands International by 6.1% in the first quarter. Russell Investments Group Ltd. now owns 124,770 shares of the restaurant operator’s stock valued at $9,915,000 after purchasing an additional 7,196 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QSR. Truist Financial reduced their target price 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. The Goldman Sachs Group began coverage on shares of Restaurant Brands International in a research note on Thursday, June 13th. They set a “buy” rating and a $80.00 price objective for the company. Stifel Nicolaus lowered their target price on Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company dropped their target price on Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Guggenheim raised their price target on Restaurant Brands International from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.11.

Restaurant Brands International Trading Down 0.0 %

QSR opened at $69.26 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 2.71. Restaurant Brands International Inc. has a twelve month low of $61.77 and a twelve month high of $83.29. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.08 and a beta of 0.93. The company has a 50-day simple moving average of $70.29 and a 200 day simple moving average of $72.09.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.01. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. Analysts predict that Restaurant Brands International Inc. will post 3.36 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.32 annualized dividend and a dividend yield of 3.35%. Restaurant Brands International’s payout ratio is 59.79%.

Insider Buying and Selling

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the transaction, the insider now owns 37,179 shares in the company, valued at $2,551,594.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Axel Mr Schwan sold 36,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total value of $2,535,840.00. Following the completion of the transaction, the insider now directly owns 97,479 shares in the company, valued at approximately $6,866,420.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the sale, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

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.