Geode Capital Management LLC Buys 126,600 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Geode Capital Management LLC boosted its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,379,847 shares of the restaurant operator’s stock after purchasing an additional 126,600 shares during the quarter. Geode Capital Management LLC owned 0.43% of Restaurant Brands International worth $101,085,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of Restaurant Brands International by 79.4% during the third quarter. Farther Finance Advisors LLC now owns 418 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 185 shares during the last quarter. Plato Investment Management Ltd bought a new position in Restaurant Brands International during the third quarter valued at about $61,000. Crewe Advisors LLC raised its holdings in Restaurant Brands International by 78.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,071 shares of the restaurant operator’s stock valued at $75,000 after acquiring an additional 472 shares in the last quarter. Blue Trust Inc. raised its holdings in Restaurant Brands International by 123.9% in the 3rd quarter. Blue Trust Inc. now owns 1,388 shares of the restaurant operator’s stock valued at $98,000 after acquiring an additional 768 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Restaurant Brands International by 67.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,754 shares of the restaurant operator’s stock worth $126,000 after acquiring an additional 704 shares during the period. 82.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on QSR. KeyCorp lowered their price objective 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 increased their price objective on shares of Restaurant Brands International from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Royal Bank of Canada reduced their price objective on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus lowered their target price on shares of Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, November 14th. Finally, Evercore ISI cut their price target 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.27.

Insider Activity at Restaurant Brands International

In related news, insider Jill Granat sold 10,613 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $70.41, for a total value of $747,261.33. Following the transaction, the insider now directly owns 388,759 shares in the company, valued at $27,372,521.19. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.36% of the stock is owned by company insiders.

Restaurant Brands International Stock Down 2.3 %

NYSE:QSR opened at $65.95 on Thursday. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 2.27 and a beta of 0.93. 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 stock’s fifty day moving average price is $69.73 and its two-hundred day moving average price is $70.00. Restaurant Brands International Inc. has a 52-week low of $65.77 and a 52-week high of $83.29.

Restaurant Brands International Announces Dividend

The company also recently declared 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 3.52%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s dividend payout ratio (DPR) is presently 58.15%.

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.