Iridian Asset Management LLC CT Purchases 7,887 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Iridian Asset Management LLC CT raised its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,870 shares of the restaurant operator's stock after buying an additional 7,887 shares during the quarter. Restaurant Brands International accounts for 2.4% of Iridian Asset Management LLC CT's holdings, making the stock its 13th biggest holding. Iridian Asset Management LLC CT's holdings in Restaurant Brands International were worth $7,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in Restaurant Brands International by 231.5% in the fourth quarter. Jones Financial Companies Lllp now owns 3,753 shares of the restaurant operator's stock valued at $245,000 after purchasing an additional 2,621 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Restaurant Brands International in the 4th quarter valued at approximately $32,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Restaurant Brands International by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 747,862 shares of the restaurant operator's stock valued at $48,719,000 after purchasing an additional 40,155 shares in the last quarter. Assetmark Inc. grew its position in Restaurant Brands International by 9.1% during the 4th quarter. Assetmark Inc. now owns 26,792 shares of the restaurant operator's stock worth $1,746,000 after acquiring an additional 2,237 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Restaurant Brands International during the 4th quarter worth $19,243,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Restaurant Brands International Stock Up 1.1%

Shares of QSR stock traded up $0.77 on Thursday, hitting $68.02. The stock had a trading volume of 755,820 shares, compared to its average volume of 2,100,872. The business has a 50 day moving average of $68.46 and a 200 day moving average of $65.66. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.96 and a quick ratio of 0.90. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $75.07.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its earnings results on Thursday, May 8th. The restaurant operator reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The business's revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 24th were given a dividend of $0.62 per share. The ex-dividend date was Tuesday, June 24th. This represents a $2.48 dividend on an annualized basis and a yield of 3.65%. Restaurant Brands International's dividend payout ratio is presently 84.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on QSR shares. UBS Group reduced their price objective on Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company lowered their price objective on Restaurant Brands International from $69.00 to $66.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Guggenheim raised their price objective on Restaurant Brands International from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. CIBC lowered their price objective on Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. Finally, Truist Financial raised their price objective on Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $75.82.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $70.08, for a total transaction of $4,905,600.00. Following the completion of the transaction, the insider owned 182,897 shares in the company, valued at $12,817,421.76. This trade represents a 27.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.