Bridgewater Associates LP Cuts Stake in Restaurant Brands International Inc. (NYSE:QSR)

Bridgewater Associates LP cut its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 55.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225,608 shares of the restaurant operator’s stock after selling 278,164 shares during the quarter. Bridgewater Associates LP’s holdings in Restaurant Brands International were worth $16,297,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Burney Co. raised its position in Restaurant Brands International by 57.7% in the 1st quarter. Burney Co. now owns 21,128 shares of the restaurant operator’s stock worth $1,679,000 after purchasing an additional 7,730 shares during the period. Cetera Investment Advisers increased its holdings in shares of Restaurant Brands International by 63.7% in the first quarter. Cetera Investment Advisers now owns 40,837 shares of the restaurant operator’s stock worth $3,245,000 after buying an additional 15,891 shares during the period. Cetera Advisors LLC lifted its stake in shares of Restaurant Brands International by 15.1% in the 1st quarter. Cetera Advisors LLC now owns 9,953 shares of the restaurant operator’s stock valued at $791,000 after acquiring an additional 1,309 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Restaurant Brands International by 4.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 41,821 shares of the restaurant operator’s stock valued at $3,306,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Threadgill Financial LLC bought a new position in shares of Restaurant Brands International in the second quarter worth approximately $500,000. 82.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the business’s stock in a transaction on 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. The trade was a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Restaurant Brands International Price Performance

NYSE QSR opened at $70.18 on Thursday. The business’s fifty day moving average is $70.25 and its 200 day moving average is $69.98. Restaurant Brands International Inc. has a fifty-two week low of $65.87 and a fifty-two week high of $83.29. 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 PE ratio of 17.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94.

Restaurant Brands International Announces Dividend

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 issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.32 dividend on an annualized basis and a yield of 3.31%. Restaurant Brands International’s dividend payout ratio is currently 58.15%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QSR. TD Cowen reduced their price target 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. KeyCorp decreased their target price on Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus cut their price target on shares of Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, November 14th. Oppenheimer decreased their price objective on shares of Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Restaurant Brands International from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Restaurant Brands International has an average rating of “Moderate Buy” and an average price target of $82.37.

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.