Ali Hedayat, a director at Restaurant Brands International Inc. (NYSE: QSR), executed a significant stock sale on November 26, 2023. Hedayat sold 7,000 shares at an average price of $72.77, resulting in a total transaction value of approximately $509,390.00. Following this sale, he retains 18,962 shares in the company, which are valued at around $1,379,864.74. This transaction marks a 26.96% decrease in his holdings.
The sale, which was disclosed in a legal filing with the Securities and Exchange Commission, comes as Restaurant Brands International continues to navigate market dynamics. Shares of the company opened at $71.90 on Thursday, reflecting a slight increase of 0.9%.
Company Performance and Analyst Ratings
Restaurant Brands International boasts a market capitalization of $23.57 billion and a price-to-earnings ratio of 25.59. The company has a debt-to-equity ratio of 2.65, while its quick and current ratios are 0.98 and 1.06, respectively. The stock’s performance over the past year has seen a low of $58.71 and a high of $73.13.
The company recently reported its earnings for the third quarter on October 30, 2023. It posted earnings per share of $1.03, surpassing analysts’ expectations of $1.00 by $0.03. Revenue for the quarter reached $2.45 billion, which also exceeded the consensus estimate of $2.39 billion, marking a year-over-year increase of 6.9%.
Analysts are optimistic about the company’s future performance. Currently, ten investment analysts have given the stock a “Buy” rating, while twelve have issued a “Hold” rating, and one has assigned a “Sell” rating. The consensus price target stands at $75.23, indicating potential for growth.
Institutional Investor Activity
Recent changes in institutional holdings reflect growing confidence in Restaurant Brands International. In the third quarter, Baupost Group LLC MA increased its stake by 103.8%, now owning over 8.25 million shares valued at approximately $529 million. Other notable investors include Norges Bank, which purchased a new stake worth $254.9 million, and Davis Selected Advisers, acquiring shares valued at $224.7 million.
The institutional investment landscape reveals that 82.29% of the company’s stock is owned by institutional investors, underscoring a robust interest in the company’s future prospects.
Restaurant Brands International operates a diverse portfolio of well-known quick-service restaurant brands, including Tim Hortons, Burger King, Popeyes Louisiana Kitchen, and Firehouse Subs. As the company continues to expand its market presence, the strategic decisions made by its leadership, including stock transactions by directors like Ali Hedayat, will remain under scrutiny from investors and analysts alike.
