Baskin Financial Services Inc. Sells 4,056 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Baskin Financial Services Inc. decreased its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,386 shares of the restaurant operator’s stock after selling 4,056 shares during the quarter. Restaurant Brands International comprises 1.9% of Baskin Financial Services Inc.’s holdings, making the stock its 26th largest holding. Baskin Financial Services Inc. owned 0.10% of Restaurant Brands International worth $23,319,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of QSR. D1 Capital Partners L.P. acquired a new position in Restaurant Brands International during the second quarter worth $200,097,000. TD Asset Management Inc increased its position in shares of Restaurant Brands International by 41.0% during the first quarter. TD Asset Management Inc now owns 4,847,985 shares of the restaurant operator’s stock worth $385,361,000 after acquiring an additional 1,409,552 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Restaurant Brands International by 72.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,655,157 shares of the restaurant operator’s stock worth $211,059,000 after acquiring an additional 1,119,582 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Restaurant Brands International by 15.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after acquiring an additional 773,783 shares in the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in Restaurant Brands International by 4.9% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock valued at $811,907,000 after purchasing an additional 536,124 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 97,479 shares of the company’s stock, valued at approximately $6,866,420.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction that occurred on 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 directly owns 37,179 shares in the company, valued at $2,551,594.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total transaction of $2,535,840.00. Following the completion of the transaction, the insider now directly owns 97,479 shares of the company’s stock, valued at approximately $6,866,420.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Restaurant Brands International Stock Performance

Shares of NYSE QSR traded up $0.08 during mid-day trading on Wednesday, hitting $71.29. The company had a trading volume of 238,516 shares, compared to its average volume of 1,588,119. The stock’s 50-day moving average price is $70.21 and its 200-day moving average price is $70.81. The company has a market capitalization of $22.58 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.12 and a beta of 0.94. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 2.71. Restaurant Brands International Inc. has a 1 year low of $62.76 and a 1 year high of $83.29.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.01. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. On average, sell-side analysts forecast that Restaurant Brands International Inc. will post 3.37 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, September 20th. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

Analysts Set New Price Targets

Several brokerages have recently commented on QSR. Truist Financial lowered their price objective on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Bank of America lifted their price objective on shares of Restaurant Brands International from $72.00 to $79.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their target price on shares of Restaurant Brands International from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Piper Sandler cut their price target on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, KeyCorp decreased their price objective on shares of Restaurant Brands International from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.11.

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.