1832 Asset Management L.P. Has $463.80 Million Stock Position in Restaurant Brands International Inc. $QSR

Key Points

• 1832 Asset Management L.P. increased its stake in Restaurant Brands International by 4.3%, acquiring an additional 289,233 shares, which brings its total holdings to approximately $463.8 million.
• Several other institutional investors, including Allspring Global Investments and Canoe Financial, also increased their positions in Restaurant Brands International during the first quarter, indicating growing institutional interest in the company.
• Restaurant Brands International recently reported earnings of $0.94 per share, slightly below estimates, while also announcing a quarterly dividend of $0.62 per share with a dividend yield of 3.9%.

1832 Asset Management L.P. grew its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,959,757 shares of the restaurant operator's stock after acquiring an additional 289,233 shares during the period. Restaurant Brands International comprises approximately 0.4% of 1832 Asset Management L.P.'s holdings, making the stock its 29th largest position. 1832 Asset Management L.P. owned about 2.12% of Restaurant Brands International worth $463,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in QSR. Barclays PLC lifted its holdings in shares of Restaurant Brands International by 45.2% during the 4th quarter. Barclays PLC now owns 51,320 shares of the restaurant operator's stock valued at $3,345,000 after purchasing an additional 15,969 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Restaurant Brands International by 7.0% during the fourth quarter. Guggenheim Capital LLC now owns 3,438 shares of the restaurant operator's stock valued at $224,000 after purchasing an additional 226 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of Restaurant Brands International by 7.0% during the fourth quarter. GeoWealth Management LLC now owns 2,487 shares of the restaurant operator's stock worth $162,000 after buying an additional 163 shares in the last quarter. First Trust Advisors LP lifted its position in Restaurant Brands International by 28.1% during the fourth quarter. First Trust Advisors LP now owns 45,797 shares of the restaurant operator's stock worth $2,984,000 after buying an additional 10,033 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Restaurant Brands International by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 974,868 shares of the restaurant operator's stock worth $63,541,000 after buying an additional 195,340 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on QSR shares. Guggenheim boosted their price target on shares of Restaurant Brands International from $77.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Melius started coverage on shares of Restaurant Brands International in a research report on Monday, July 14th. They set a "buy" rating and a $90.00 price target for the company. Citigroup cut their price target on Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Morgan Stanley dropped their price objective on shares of Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating for the company in a research note on Monday, July 14th. Finally, Argus downgraded shares of Restaurant Brands International from a "buy" rating to a "hold" rating in a research note on Friday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Restaurant Brands International presently has an average rating of "Hold" and a consensus target price of $75.04.

Restaurant Brands International Trading Up 0.1%

Restaurant Brands International stock traded up $0.08 during midday trading on Wednesday, reaching $62.84. The stock had a trading volume of 482,073 shares, compared to its average volume of 2,476,662. The firm's fifty day simple moving average is $66.97 and its two-hundred day simple moving average is $66.66. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.70 and a beta of 0.58. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.01 and a quick ratio of 0.95. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $74.09.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $0.94 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.03). Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The company had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.33 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. Equities analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 23rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio is currently 93.94%.

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.