1832 Asset Management L.P. Boosts Stake 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. lifted its position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,959,757 shares of the restaurant operator's stock after buying an additional 289,233 shares during the period. Restaurant Brands International makes up approximately 0.4% of 1832 Asset Management L.P.'s portfolio, making the stock its 29th largest position. 1832 Asset Management L.P. owned about 2.12% of Restaurant Brands International worth $463,798,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in QSR. GeoWealth Management LLC increased its stake in 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 purchasing an additional 163 shares during the period. Capital Analysts LLC boosted its stake in shares of Restaurant Brands International by 24.3% in the fourth quarter. Capital Analysts LLC now owns 952 shares of the restaurant operator's stock valued at $62,000 after purchasing an additional 186 shares during the period. Dunhill Financial LLC grew its holdings in shares of Restaurant Brands International by 100.0% in the fourth quarter. Dunhill Financial LLC now owns 400 shares of the restaurant operator's stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Guggenheim Capital LLC increased its stake in Restaurant Brands International by 7.0% during the 4th quarter. Guggenheim Capital LLC now owns 3,438 shares of the restaurant operator's stock worth $224,000 after buying an additional 226 shares during the period. Finally, Private Trust Co. NA lifted its holdings in Restaurant Brands International by 96.6% during the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock worth $35,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company's stock.

Restaurant Brands International Stock Down 0.8%

Shares of QSR traded down $0.4830 during mid-day trading on Friday, reaching $63.3070. The company's stock had a trading volume of 2,915,922 shares, compared to its average volume of 2,234,325. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $74.09. The stock has a market cap of $20.75 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.73 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. The company's 50 day moving average is $67.14 and its 200 day moving average is $66.69.

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

Restaurant Brands International Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Sanford C. Bernstein set a $78.00 price target on shares of Restaurant Brands International in a research note on Friday, August 8th. Scotiabank decreased their target price on Restaurant Brands International from $75.00 to $71.00 and set a "sector perform" rating for the company in a report on Friday, August 8th. UBS Group lowered their target price on Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Citigroup reduced their price target on Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Finally, Argus downgraded Restaurant Brands International from a "buy" rating to a "hold" rating in a research report on Friday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $75.04.

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.