Novare Capital Management LLC Sells 15,805 Shares of Restaurant Brands International Inc. (NYSE:QSR)
Novare Capital Management LLC reduced its stake in Restaurant Brands International Inc. (NYSE:QSR) by 16.9%, selling 15,805 shares during the fourth quarter. The firm now holds 77,577 shares valued at approximately $5.06 million. Other institutional investors have also adjusted their holdings, with Geode Capital Management increasing its stake by 10.1%. Insider trading activity included sales by Jill Granat and Thiago T. Santelmo. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $80.96.
Novare Capital Management LLC lowered its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,577 shares of the restaurant operator's stock after selling 15,805 shares during the quarter. Novare Capital Management LLC's holdings in Restaurant Brands International were worth $5,056,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other institutional investors and hedge funds have also modified their holdings of QSR. Geode Capital Management LLC lifted 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 worth $101,085,000 after purchasing an additional 126,600 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Restaurant Brands International in the fourth quarter worth $1,299,000. Dimensional Fund Advisors LP lifted its stake in shares of Restaurant Brands International by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 650,486 shares of the restaurant operator's stock worth $45,772,000 after buying an additional 10,855 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Restaurant Brands International by 112.1% during the 3rd quarter. Wellington Management Group LLP now owns 17,965 shares of the restaurant operator's stock worth $1,298,000 after buying an additional 9,496 shares during the period. Finally, Private Advisor Group LLC acquired a new position in Restaurant Brands International in the 3rd quarter valued at $257,000. Institutional investors and hedge funds own 82.29% of the company's stock.
Insider Activity at Restaurant Brands International
In related news, insider Jill Granat sold 10,613 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $70.41, for a total value of $747,261.33. Following the transaction, the insider now owns 388,759 shares in the company, valued at $27,372,521.19. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thiago T. Santelmo sold 3,511 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $225,406.20. Following the sale, the insider now directly owns 32,937 shares of the company's stock, valued at $2,114,555.40. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,510 shares of company stock valued at $7,774,020 in the last three months. Corporate insiders own 1.36% of the company's stock.
Wall Street Analyst Weigh In
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A number of research firms have weighed in on QSR. 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 report on Tuesday, October 22nd. Citigroup increased their target price on Restaurant Brands International from $75.00 to $77.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. KeyCorp dropped their price target on Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 6th. Guggenheim upgraded Restaurant Brands International from a "neutral" rating to a "buy" rating and cut their price target for the stock from $74.00 to $71.00 in a report on Friday. Finally, CIBC lowered their price objective on shares of Restaurant Brands International from $88.00 to $86.00 and set an "outperformer" rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Restaurant Brands International has a consensus rating of "Moderate Buy" and an average price target of $80.96.
Check Out Our Latest Report on Restaurant Brands International
Restaurant Brands International Price Performance
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NYSE:QSR opened at $62.09 on Friday. The firm has a market cap of $20.14 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.94. The company's 50-day moving average price is $66.06 and its two-hundred day moving average price is $68.83. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75. Restaurant Brands International Inc. has a 12 month low of $59.85 and a 12 month high of $83.29.
Restaurant Brands International Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a dividend of $0.58 per share. The ex-dividend date was Friday, December 20th. This represents a $2.32 dividend on an annualized basis and a yield of 3.74%. Restaurant Brands International's dividend payout ratio (DPR) is presently 58.15%.
Restaurant Brands International Company Profile
(Free Report)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.
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