Addenda Capital Inc. Sells 5,558 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Addenda Capital Inc. sold 5,558 shares of Restaurant Brands International Inc., reducing its stake by 1.7% to approximately 324,331 shares, worth around $21.5 million.
• Restaurant Brands International's recent earnings report showed an EPS of $0.94, missing expectations by $0.03, with revenue rising 15.9% year-over-year to $2.41 billion.
• The company announced a quarterly dividend of $0.62, yielding 3.8%, with a payout ratio of nearly 94%.

Addenda Capital Inc. decreased its position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 324,331 shares of the restaurant operator's stock after selling 5,558 shares during the period. Addenda Capital Inc. owned approximately 0.10% of Restaurant Brands International worth $21,500,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QSR. HM Payson & Co. purchased a new position in shares of Restaurant Brands International during the first quarter valued at approximately $26,000. Legend Financial Advisors Inc. acquired a new position in shares of Restaurant Brands International during the 2nd quarter worth about $33,000. CX Institutional raised its holdings in Restaurant Brands International by 928.0% in the 2nd quarter. CX Institutional now owns 514 shares of the restaurant operator's stock valued at $34,000 after acquiring an additional 464 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Restaurant Brands International by 96.6% in the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock valued at $35,000 after buying an additional 255 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Restaurant Brands International by 91.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 545 shares of the restaurant operator's stock valued at $35,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 82.29% of the company's stock.

Restaurant Brands International Stock Performance

Restaurant Brands International stock opened at $64.92 on Friday. The firm's 50 day simple moving average is $65.19 and its 200-day simple moving average is $66.29. The company has a market cap of $21.28 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 2.80 and a beta of 0.61. 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 fifty-two week low of $58.71 and a fifty-two week 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). The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.33 billion. Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. As a group, equities research analysts predict that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be paid a $0.62 dividend. The ex-dividend date is Tuesday, September 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 3.8%. Restaurant Brands International's payout ratio is 93.94%.

Analysts Set New Price Targets

QSR has been the subject of several recent research reports. Piper Sandler decreased their price target on shares of Restaurant Brands International from $72.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Citigroup lowered their target price on shares of Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Bank of America reduced their price target on shares of Restaurant Brands International from $62.00 to $60.00 and set an "underperform" rating on the stock in a report on Friday, July 18th. Guggenheim boosted their price objective on shares of Restaurant Brands International from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Finally, Truist Financial upped their price target on shares of Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Restaurant Brands International presently has an average rating of "Hold" and a consensus target price of $75.04.

Restaurant Brands International Company 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.

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