Alberta Investment Management Corp Buys 467,330 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Key Points

• Alberta Investment Management Corp increased its holdings in Restaurant Brands International Inc. by 51.1%, acquiring an additional 467,330 shares, which now represents 0.6% of its portfolio.
• Institutional ownership of Restaurant Brands International stands at 82.29%, with several large investors, including Meritage Group and Baupost Group, significantly boosting their stakes in the last quarter.
• The company reported earnings per share of $0.75 for the quarter, missing estimates, and had revenue of $2.03 billion, compared to the anticipated $2.17 billion.

Alberta Investment Management Corp boosted its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 51.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,381,830 shares of the restaurant operator's stock after purchasing an additional 467,330 shares during the quarter. Restaurant Brands International comprises 0.6% of Alberta Investment Management Corp's portfolio, making the stock its 25th largest holding. Alberta Investment Management Corp owned approximately 0.42% of Restaurant Brands International worth $92,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Meritage Group LP lifted its position in Restaurant Brands International by 5,795.9% in the fourth quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator's stock worth $215,204,000 after purchasing an additional 3,245,689 shares during the period. Baupost Group LLC MA lifted its position in Restaurant Brands International by 10,155.5% in the fourth quarter. Baupost Group LLC MA now owns 2,901,700 shares of the restaurant operator's stock worth $189,133,000 after purchasing an additional 2,873,406 shares during the period. EdgePoint Investment Group Inc. lifted its position in Restaurant Brands International by 26.6% in the fourth quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator's stock worth $834,478,000 after purchasing an additional 2,695,071 shares during the period. TD Asset Management Inc lifted its position in Restaurant Brands International by 29.4% in the first quarter. TD Asset Management Inc now owns 4,631,461 shares of the restaurant operator's stock worth $308,698,000 after purchasing an additional 1,053,640 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Restaurant Brands International by 967.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,087,542 shares of the restaurant operator's stock worth $70,793,000 after acquiring an additional 985,615 shares in the last quarter. Institutional investors own 82.29% of the company's stock.

Restaurant Brands International Stock Performance

Shares of NYSE QSR opened at $67.84 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.96 and a quick ratio of 0.90. The stock's fifty day moving average price is $68.59 and its two-hundred day moving average price is $66.16. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $74.09. The firm has a market cap of $22.24 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 2.14 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The business's quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 24th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 24th. Restaurant Brands International's dividend payout ratio is presently 84.07%.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Jacqueline Friesner sold 70,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $70.08, for a total transaction of $4,905,600.00. Following the completion of the sale, the insider directly owned 182,897 shares in the company, valued at approximately $12,817,421.76. This represents a 27.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial increased their price objective on Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Scotiabank upgraded Restaurant Brands International to a "hold" rating and set a $75.00 price objective for the company in a research note on Wednesday, June 18th. CIBC lowered their target price on Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. Robert W. Baird lowered their target price on Restaurant Brands International from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $76.09.

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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