The Manufacturers Life Insurance Company Sells 292,414 Shares of Restaurant Brands International Inc. (NYSE:QSR)

The Manufacturers Life Insurance Company cut its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 7.1% in the third quarter, Holdings Channel reports. The institutional investor owned 3,852,016 shares of the restaurant operator’s stock after selling 292,414 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Restaurant Brands International were worth $278,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of QSR. Cetera Investment Advisers raised its position in shares of Restaurant Brands International by 63.7% during the first quarter. Cetera Investment Advisers now owns 40,837 shares of the restaurant operator’s stock valued at $3,245,000 after buying an additional 15,891 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new position in Restaurant Brands International in the 2nd quarter valued at approximately $666,000. Dimensional Fund Advisors LP lifted its position in shares of Restaurant Brands International by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 650,486 shares of the restaurant operator’s stock worth $45,772,000 after acquiring an additional 10,855 shares during the period. Raymond James & Associates grew its holdings in shares of Restaurant Brands International by 42.0% during the 2nd quarter. Raymond James & Associates now owns 77,669 shares of the restaurant operator’s stock worth $5,466,000 after purchasing an additional 22,981 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of Restaurant Brands International by 6.5% during the second quarter. Fiera Capital Corp now owns 3,517,417 shares of the restaurant operator’s stock valued at $247,955,000 after purchasing an additional 213,877 shares during the period. 82.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus decreased 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 research note on Thursday, November 14th. Truist Financial decreased their target price on shares of Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Royal Bank of Canada dropped their price target on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Oppenheimer decreased their price objective on Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Finally, Argus lowered their price objective on 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.37.

Restaurant Brands International Stock Up 1.0 %

Shares of NYSE QSR opened at $69.81 on Tuesday. Restaurant Brands International Inc. has a 1 year low of $65.87 and a 1 year high of $83.29. The firm’s 50-day moving average is $70.23 and its 200-day moving average is $70.01. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $22.60 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid 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 3.32%. Restaurant Brands International’s payout ratio is presently 58.15%.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the transaction, the insider now owns 37,179 shares in the company, valued at approximately $2,551,594.77. This trade represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.36% of the company’s stock.

Restaurant Brands International Profile

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.