Royal Fund Management LLC Sells 24,730 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Royal Fund Management LLC cut its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 53.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,130 shares of the restaurant operator’s stock after selling 24,730 shares during the quarter. Royal Fund Management LLC’s holdings in Restaurant Brands International were worth $1,377,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QSR. EdgePoint Investment Group Inc. raised 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 buying an additional 536,124 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Restaurant Brands International by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock valued at $390,678,000 after acquiring an additional 518,795 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Restaurant Brands International by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,144,430 shares of the restaurant operator’s stock worth $291,615,000 after purchasing an additional 169,458 shares in the last quarter. Fiera Capital Corp lifted its position in Restaurant Brands International by 6.5% during the third quarter. Fiera Capital Corp now owns 3,744,620 shares of the restaurant operator’s stock valued at $270,554,000 after purchasing an additional 227,203 shares in the last quarter. Finally, National Bank of Canada FI increased its position in Restaurant Brands International by 68.6% in the third quarter. National Bank of Canada FI now owns 3,181,459 shares of the restaurant operator’s stock worth $229,545,000 after buying an additional 1,294,185 shares in the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QSR has been the subject of a number of recent research reports. Oppenheimer cut their price objective on Restaurant Brands International from $86.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. KeyCorp cut their target price on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Argus lowered their price target on Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. CIBC dropped their price target on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI lowered their target price on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.46.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $60.48 on Tuesday. Restaurant Brands International Inc. has a 1-year low of $60.03 and a 1-year high of $83.29. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.02 and a quick ratio of 0.94. The firm’s fifty day moving average price is $66.73 and its 200 day moving average price is $69.13.

Restaurant Brands International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $2.32 dividend on an annualized basis and a yield of 3.84%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 58.15%.

Insider Buying and Selling at Restaurant Brands International

In related news, insider Thiago T. Santelmo sold 3,511 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $64.20, for a total transaction of $225,406.20. Following the transaction, the insider now directly owns 32,937 shares of the company’s stock, valued at approximately $2,114,555.40. The trade was a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jill Granat sold 10,613 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $70.41, for a total transaction of $747,261.33. Following the transaction, the insider now owns 388,759 shares in the company, valued at $27,372,521.19. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,510 shares of company stock valued at $7,774,020. Corporate insiders own 1.36% of the company’s stock.

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.