Novare Capital Management LLC Decreases Stock Position in Restaurant Brands International Inc. (NYSE:QSR)

Novare Capital Management LLC decreased its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,603 shares of the restaurant operator's stock after selling 7,974 shares during the quarter. Novare Capital Management LLC's holdings in Restaurant Brands International were worth $4,638,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new stake in Restaurant Brands International in the first quarter valued at approximately $26,000. Nichols & Pratt Advisers LLP MA raised its holdings in Restaurant Brands International by 33.2% during the first quarter. Nichols & Pratt Advisers LLP MA now owns 35,868 shares of the restaurant operator's stock worth $2,391,000 after purchasing an additional 8,940 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Restaurant Brands International during the first quarter worth approximately $721,000. Baskin Financial Services Inc. raised its holdings in Restaurant Brands International by 2.9% during the first quarter. Baskin Financial Services Inc. now owns 342,199 shares of the restaurant operator's stock worth $22,809,000 after purchasing an additional 9,605 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in Restaurant Brands International by 96.6% during the first quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company's stock.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Jacqueline Friesner sold 70,000 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 182,897 shares of the company's stock, valued at $12,817,421.76. This represents a 27.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by company insiders.

Restaurant Brands International Stock Performance

NYSE:QSR traded up $0.30 during mid-day trading on Tuesday, reaching $68.16. The stock had a trading volume of 1,809,005 shares, compared to its average volume of 2,563,846. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.90 and a current ratio of 0.96. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.04 and a beta of 0.58. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $75.07. The business has a 50 day simple moving average of $68.32 and a 200 day simple moving average of $65.63.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Restaurant Brands International had a return on equity of 28.94% and a net margin of 10.82%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company earned $0.73 earnings per share. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts expect that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 24th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.64%. Restaurant Brands International's dividend payout ratio (DPR) is presently 84.07%.

Analysts Set New Price Targets

A number of research firms have recently commented on QSR. Truist Financial cut their target price on Restaurant Brands International from $83.00 to $78.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley upped their target price on Restaurant Brands International from $72.00 to $73.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Robert W. Baird decreased their target price on Restaurant Brands International from $72.00 to $65.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. UBS Group decreased their target price on Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Oppenheimer lifted their target price on shares of Restaurant Brands International from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Restaurant Brands International currently has an average rating of "Hold" and a consensus price target of $75.68.

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.