Norges Bank Purchases Shares of 3,117,082 Restaurant Brands International Inc. (NYSE:QSR)

Norges Bank bought a new position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,117,082 shares of the restaurant operator's stock, valued at approximately $243,551,000. Norges Bank owned approximately 1.00% of Restaurant Brands International at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QSR. Vanguard Group Inc. grew its position in Restaurant Brands International by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,781,047 shares of the restaurant operator's stock worth $784,853,000 after purchasing an additional 203,594 shares in the last quarter. Mackenzie Financial Corp grew its position in Restaurant Brands International by 9.2% during the 4th quarter. Mackenzie Financial Corp now owns 4,236,811 shares of the restaurant operator's stock worth $331,197,000 after purchasing an additional 357,394 shares in the last quarter. Bank of Nova Scotia grew its position in Restaurant Brands International by 0.7% during the 3rd quarter. Bank of Nova Scotia now owns 3,235,000 shares of the restaurant operator's stock worth $215,429,000 after purchasing an additional 21,544 shares in the last quarter. Fiera Capital Corp grew its position in Restaurant Brands International by 4.8% during the 4th quarter. Fiera Capital Corp now owns 3,092,820 shares of the restaurant operator's stock worth $243,711,000 after purchasing an additional 140,362 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Restaurant Brands International by 46.7% during the 4th quarter. National Bank of Canada FI now owns 2,253,620 shares of the restaurant operator's stock worth $173,167,000 after purchasing an additional 717,801 shares in the last quarter. Institutional investors own 82.29% of the company's stock.

Insider Activity at Restaurant Brands International

In other Restaurant Brands International news, CEO Joshua Kobza sold 246,196 shares of the company's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.17, for a total transaction of $18,506,553.32. Following the sale, the chief executive officer now directly owns 595,764 shares of the company's stock, valued at $44,783,579.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Restaurant Brands International news, insider Jill Granat sold 23,322 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $75.55, for a total transaction of $1,761,977.10. Following the sale, the insider now directly owns 406,860 shares of the company's stock, valued at $30,738,273. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joshua Kobza sold 246,196 shares of the company's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $75.17, for a total transaction of $18,506,553.32. Following the sale, the chief executive officer now directly owns 595,764 shares in the company, valued at $44,783,579.88. The disclosure for this sale can be found here. Insiders have sold a total of 566,441 shares of company stock valued at $42,749,676 over the last quarter. 1.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QSR. JPMorgan Chase & Co. lifted their target price on shares of Restaurant Brands International from $78.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, February 16th. Loop Capital lifted their target price on shares of Restaurant Brands International from $86.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. Citigroup lifted their target price on shares of Restaurant Brands International from $78.00 to $79.00 and gave the company a "neutral" rating in a research note on Wednesday, May 1st. KeyCorp lifted their target price on shares of Restaurant Brands International from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday, May 1st. Finally, TD Securities lifted their target price on shares of Restaurant Brands International from $84.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.56.

Restaurant Brands International Stock Performance

Shares of NYSE:QSR traded down $0.72 on Wednesday, hitting $68.28. 1,851,881 shares of the company were exchanged, compared to its average volume of 1,566,633. The company's 50 day moving average price is $74.71 and its two-hundred day moving average price is $75.15. Restaurant Brands International Inc. has a one year low of $61.77 and a one year high of $83.29. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.08. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.12 and a beta of 0.92.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.70 billion. Restaurant Brands International had a net margin of 17.17% and a return on equity of 31.12%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Research analysts expect that Restaurant Brands International Inc. will post 3.34 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be paid a $0.58 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.32 dividend on an annualized basis and a yield of 3.40%. Restaurant Brands International's payout ratio is currently 59.79%.

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.