Alta Capital Management LLC Acquires 7,665 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Alta Capital Management LLC increased its holdings in Restaurant Brands International by 5.5%, acquiring an additional 7,665 shares in the second quarter, bringing its total to 147,519 shares valued at approximately $9.78 million.
• The company reported quarterly earnings of $0.94 per share, missing estimates, but its revenue increased 15.9% year-over-year to $2.41 billion.
• Restaurant Brands International declared a quarterly dividend of $0.62 per share, representing a dividend yield of 3.6%, with a payout ratio of about 93.94%.

Alta Capital Management LLC raised its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,519 shares of the restaurant operator's stock after acquiring an additional 7,665 shares during the quarter. Alta Capital Management LLC's holdings in Restaurant Brands International were worth $9,779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of QSR. HM Payson & Co. bought a new stake in Restaurant Brands International during the first quarter valued at about $26,000. Legend Financial Advisors Inc. bought a new stake in Restaurant Brands International during the second quarter valued at about $33,000. CX Institutional raised its holdings in Restaurant Brands International by 928.0% during the second 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 period. Private Trust Co. NA raised its holdings in Restaurant Brands International by 96.6% during the first quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock valued at $35,000 after acquiring an additional 255 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Restaurant Brands International by 91.2% during the first quarter. Smartleaf Asset Management LLC now owns 545 shares of the restaurant operator's stock valued at $35,000 after acquiring an additional 260 shares during the period. 82.29% of the stock is owned by institutional investors.

Restaurant Brands International Trading Up 0.9%

Shares of NYSE QSR opened at $69.29 on Thursday. The business's 50 day moving average is $64.67 and its two-hundred day moving average is $66.31. 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 1-year low of $58.71 and a 1-year high of $74.09. The stock has a market capitalization of $22.71 billion, a P/E ratio of 26.25, a PEG ratio of 2.99 and a beta of 0.65.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings data 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). Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The company's revenue was up 15.9% compared to the same quarter last year. As a group, research analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 23rd. Restaurant Brands International's payout ratio is presently 93.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Bank of America reduced their target price on Restaurant Brands International from $62.00 to $60.00 and set an "underperform" rating on the stock in a report on Friday, July 18th. Sanford C. Bernstein set a $78.00 target price on Restaurant Brands International in a report on Friday, August 8th. Citigroup reduced their target price on Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Finally, Melius initiated coverage on Restaurant Brands International in a report on Monday, July 14th. They issued a "buy" rating and a $90.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $75.13.

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.

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