Advisors Asset Management Inc. Sells 5,281 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Advisors Asset Management Inc. decreased its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,576 shares of the restaurant operator’s stock after selling 5,281 shares during the period. Advisors Asset Management Inc.’s holdings in Restaurant Brands International were worth $979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in shares of Restaurant Brands International by 63.7% in the first quarter. Cetera Investment Advisers now owns 40,837 shares of the restaurant operator’s stock valued at $3,245,000 after buying an additional 15,891 shares during the period. Sumitomo Life Insurance Co. acquired a new position in Restaurant Brands International in the 2nd quarter valued at $666,000. Dimensional Fund Advisors LP lifted its position in shares of Restaurant Brands International by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 650,486 shares of the restaurant operator’s stock valued at $45,772,000 after acquiring an additional 10,855 shares during the period. Raymond James & Associates grew its holdings in shares of Restaurant Brands International by 42.0% during the 2nd quarter. Raymond James & Associates now owns 77,669 shares of the restaurant operator’s stock worth $5,466,000 after purchasing an additional 22,981 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of Restaurant Brands International by 6.5% in the second quarter. Fiera Capital Corp now owns 3,517,417 shares of the restaurant operator’s stock worth $247,955,000 after purchasing an additional 213,877 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Argus cut their price objective on shares of Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. CIBC reduced their price target on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating on the stock in a research report on Wednesday, November 6th. KeyCorp decreased their price objective on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Citigroup upped their target price 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, Truist Financial decreased their price target on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.37.

Insider Buying and Selling at Restaurant Brands International

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the sale, the insider now owns 37,179 shares in the company, valued at $2,551,594.77. This represents a 14.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.36% of the company’s stock.

Restaurant Brands International Trading Down 0.9 %

NYSE QSR opened at $69.21 on Wednesday. The firm has a market capitalization of $22.40 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94. The business’s 50-day moving average price is $70.23 and its two-hundred day moving average price is $69.98. 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 12 month low of $65.87 and a 12 month high of $83.29.

Restaurant Brands International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s payout ratio is presently 58.15%.

Restaurant Brands International Company 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.