Restaurant Brands International Inc. (NYSE:QSR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,334 shares of the restaurant operator’s stock after selling 872 shares during the period. PNC Financial Services Group Inc.’s holdings in Restaurant Brands International were worth $1,106,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. EdgePoint Investment Group Inc. increased its stake in Restaurant Brands International by 4.9% in the second quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock valued at $811,907,000 after purchasing an additional 536,124 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Restaurant Brands International by 15.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock valued at $403,398,000 after acquiring an additional 773,783 shares during the last quarter. Mackenzie Financial Corp lifted its holdings 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 worth $390,678,000 after acquiring an additional 518,795 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Restaurant Brands International by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,144,430 shares of the restaurant operator’s stock worth $291,615,000 after acquiring an additional 169,458 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in Restaurant Brands International by 6.5% in 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 during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Trading Up 1.4 %

Shares of QSR opened at $70.18 on Thursday. Restaurant Brands International Inc. has a one year low of $65.87 and a one year high of $83.29. The stock has a 50-day moving average price of $70.25 and a 200 day moving average price of $69.98. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.94 and a current ratio of 1.02. The company has a market capitalization of $22.72 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.27 and a beta of 0.94.

Restaurant Brands International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, December 20th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 58.15%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QSR. Argus cut their price target on shares of Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Citigroup increased their target price on Restaurant Brands International from $75.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Oppenheimer lowered their price target on Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. TD Cowen cut their price objective on Restaurant Brands International from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Piper Sandler decreased their target price on Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.37.

Insider Transactions at Restaurant Brands International

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total value of $448,565.68. Following the sale, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. This represents a 14.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.