AIA Group Ltd Sells 36,360 Shares of Restaurant Brands International Inc. $QSR

Key Points

• AIA Group cut its Restaurant Brands International stake by 31.7%, selling 36,360 shares in the third quarter and ending the period with 78,514 shares valued at about $5.6 million.
• Restaurant Brands International reported quarterly EPS of $1.10, topping estimates of $1.08, while revenue of $2.52 billion fell short of forecasts but rose 3.1% year over year. The company declared a $0.65 quarterly dividend, equivalent to a 3.3% yield.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $83.92; shares opened at $78.37.

AIA Group Ltd reduced its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 31.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,514 shares of the restaurant operator's stock after selling 36,360 shares during the quarter. AIA Group Ltd's holdings in Restaurant Brands International were worth $5,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. EdgePoint Investment Group Inc. grew its stake in Restaurant Brands International by 16.2% in the first quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator's stock valued at $1,432,015,000 after purchasing an additional 2,703,134 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Restaurant Brands International by 143.9% in the first quarter. Bank of America Corp DE now owns 4,932,662 shares of the restaurant operator's stock valued at $364,524,000 after purchasing an additional 2,910,454 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Restaurant Brands International by 4.4% in the third quarter. TD Waterhouse Canada Inc. now owns 2,583,329 shares of the restaurant operator's stock valued at $180,116,000 after purchasing an additional 109,723 shares during the last quarter. London Co. of Virginia acquired a new position in shares of Restaurant Brands International in the first quarter valued at $147,967,000. Finally, Cullen Capital Management LLC bought a new position in shares of Restaurant Brands International in the second quarter valued at about $128,350,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Restaurant Brands International Price Performance

QSR stock opened at $78.37 on Thursday. The company's 50-day moving average price is $74.29 and its two-hundred day moving average price is $74.03. The firm has a market cap of $27.33 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.19 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 2.43. Restaurant Brands International Inc. has a 12 month low of $65.43 and a 12 month high of $81.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings results on Thursday, October 29th. The restaurant operator reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.02. Restaurant Brands International had a net margin of 15.35% and a return on equity of 33.50%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts anticipate that Restaurant Brands International Inc. will post 4.05 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.3%. Restaurant Brands International's payout ratio is 60.47%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Restaurant Brands International from $79.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Seaport Research Partners started coverage on shares of Restaurant Brands International in a research report on Wednesday, September 16th. They set a "buy" rating and a $88.00 price target on the stock. Mizuho began coverage on shares of Restaurant Brands International in a research note on Tuesday, October 20th. They issued an "outperform" rating and a $85.00 price objective for the company. Robert W. Baird boosted their price objective on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, August 24th. Finally, Royal Bank Of Canada decreased their target price on shares of Restaurant Brands International from $80.00 to $79.00 and set a "neutral" rating on the stock in a research report on Monday, October 19th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Restaurant Brands International has an average rating of "Moderate Buy" and a consensus price target of $83.92.

Insider Buying and Selling at Restaurant Brands International

In related news, insider Axel Schwan sold 57,574 shares of the company's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $81.14, for a total transaction of $4,671,554.36. Following the completion of the sale, the insider directly owned 209,908 shares in the company, valued at $17,031,935.12. This represents a 21.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is currently owned by corporate insiders.

Restaurant Brands International Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company that owns and operates a portfolio of restaurant brands, primarily through franchised and licensed locations. Its brands include Tim Hortons, Burger King, Popeyes and Firehouse Subs, which serve coffee, baked goods, burgers, chicken, sandwiches and other prepared foods.

The company was formed in 2014 through the merger of Burger King Worldwide and Tim Hortons. RBI expanded its portfolio through the acquisition of Popeyes Louisiana Kitchen in 2017 and Firehouse Restaurant Group in 2021.

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