Citigroup Inc. Buys 12,287 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Citigroup Inc. increased its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,433 shares of the restaurant operator’s stock after buying an additional 12,287 shares during the quarter. Citigroup Inc. owned 0.06% of Restaurant Brands International worth $13,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. EdgePoint Investment Group Inc. lifted its holdings in shares of Restaurant Brands International by 4.9% during 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 acquiring an additional 536,124 shares during the period. 1832 Asset Management L.P. increased its position 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 worth $403,398,000 after purchasing an additional 773,783 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in 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 valued at $390,678,000 after purchasing an additional 518,795 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in 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 valued at $291,615,000 after buying an additional 169,458 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in Restaurant Brands International by 6.5% during the third quarter. Fiera Capital Corp now owns 3,744,620 shares of the restaurant operator’s stock worth $270,554,000 after buying an additional 227,203 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Restaurant Brands International from $75.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Oppenheimer reduced their price objective on Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. KeyCorp lowered their target price on Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Bank of America upped their price target 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. Finally, Guggenheim raised 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 report on Monday, September 9th. 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 company. According to MarketBeat, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and an average target price of $82.37.

Insider Activity at Restaurant Brands International

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 directly owns 37,179 shares of the company’s stock, valued at approximately $2,551,594.77. The trade was a 14.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is owned by insiders.

Restaurant Brands International Stock Performance

Shares of Restaurant Brands International stock opened at $70.18 on Friday. Restaurant Brands International Inc. has a 12 month low of $65.87 and a 12 month high of $83.29. 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 company has a market capitalization of $22.72 billion, a PE ratio of 17.59, a PEG ratio of 2.27 and a beta of 0.94. The stock’s fifty day simple moving average is $70.23 and its 200 day simple moving average is $69.98.

Restaurant Brands International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued 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 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.