Restaurant Brands International Inc. (NYSE:QSR) Short Interest Down 19.5% in October

Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 5,380,000 shares, a drop of 19.5% from the October 15th total of 6,680,000 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is currently 3.7 days.

Analysts Set New Price Targets

QSR has been the subject of a number of analyst reports. Bank of America boosted their target price on shares of Restaurant Brands International from $76.00 to $77.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lowered their target price on shares of Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Restaurant Brands International from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Citigroup boosted their target price on shares of 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, Oppenheimer lowered their target price on shares of Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.37.

Insider Activity at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Mr Schwan sold 36,000 shares of the business’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 completion of the transaction, the insider now owns 97,479 shares in the company, valued at $6,866,420.76. The trade was a 26.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the completion of the transaction, the insider now owns 37,179 shares of the company’s stock, valued at approximately $2,551,594.77. This trade represents a 14.95 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Restaurant Brands International

Several hedge funds and other institutional investors have recently made changes to their positions in QSR. Geode Capital Management LLC increased its holdings in Restaurant Brands International by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,379,847 shares of the restaurant operator’s stock valued at $101,085,000 after purchasing an additional 126,600 shares in the last quarter. Vestcor Inc acquired a new stake in Restaurant Brands International in the 3rd quarter valued at $1,103,000. Public Employees Retirement System of Ohio acquired a new stake in Restaurant Brands International in the 3rd quarter valued at $1,851,000. Meritage Group LP acquired a new stake in Restaurant Brands International in the 3rd quarter valued at $4,039,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Restaurant Brands International in the 3rd quarter valued at $1,153,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

Restaurant Brands International Price Performance

Shares of QSR stock traded down $0.95 during trading hours on Friday, hitting $67.52. The company’s stock had a trading volume of 1,279,694 shares, compared to its average volume of 1,545,530. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75. The stock has a market cap of $21.86 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 2.19 and a beta of 0.94. Restaurant Brands International has a twelve month low of $65.87 and a twelve month high of $83.29. The business has a fifty day moving average of $70.13 and a 200-day moving average of $70.24.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s dividend payout ratio is currently 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.