Alta Capital Management LLC Sells 107,433 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Alta Capital Management cut its Restaurant Brands International stake by 69.4% in the fourth quarter, selling 107,433 shares and leaving it with 47,423 shares worth about $3.24 million.
• Despite some selling, institutional ownership remains high: 82.29% of QSR is held by institutions, and several large funds recently increased their positions.
• Restaurant Brands International posted better-than-expected quarterly results with EPS of $0.86 on revenue of $2.26 billion, and it also announced a $0.65 quarterly dividend, implying a 3.4% yield.

Alta Capital Management LLC trimmed its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 69.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,423 shares of the restaurant operator's stock after selling 107,433 shares during the quarter. Alta Capital Management LLC's holdings in Restaurant Brands International were worth $3,236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QSR. Baupost Group LLC MA boosted its stake in shares of Restaurant Brands International by 103.8% in the 3rd quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator's stock valued at $529,337,000 after purchasing an additional 4,203,300 shares during the last quarter. State Street Corp boosted its stake in shares of Restaurant Brands International by 9,477.4% in the 2nd quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock valued at $198,711,000 after purchasing an additional 2,966,048 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Restaurant Brands International by 15.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 14,903,208 shares of the restaurant operator's stock valued at $955,855,000 after purchasing an additional 1,983,354 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Restaurant Brands International by 56.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,855,081 shares of the restaurant operator's stock valued at $189,510,000 after purchasing an additional 1,029,500 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Restaurant Brands International by 62.2% in the 2nd quarter. Bank of America Corp DE now owns 2,339,967 shares of the restaurant operator's stock valued at $155,116,000 after purchasing an additional 897,742 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QSR. Royal Bank Of Canada upped their price objective on shares of Restaurant Brands International from $83.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, April 21st. UBS Group boosted their target price on shares of Restaurant Brands International from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, May 4th. KeyCorp boosted their target price on shares of Restaurant Brands International from $78.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. Truist Financial boosted their target price on shares of Restaurant Brands International from $83.00 to $87.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Finally, BMO Capital Markets dropped their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set an "outperform" rating on the stock in a research report on Friday, February 13th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.33.

Restaurant Brands International Stock Performance

QSR opened at $75.71 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 2.55. The company's fifty day moving average price is $76.41 and its two-hundred day moving average price is $71.73. Restaurant Brands International Inc. has a 1-year low of $61.33 and a 1-year high of $81.96. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.97 and a beta of 0.53.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Restaurant Brands International had a net margin of 9.96% and a return on equity of 32.80%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Restaurant Brands International Inc. will post 4.06 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be issued a $0.65 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $2.60 annualized dividend and a dividend yield of 3.4%. Restaurant Brands International's dividend payout ratio is currently 91.55%.

Insider Buying and Selling

In other news, CEO Joshua Kobza sold 200,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $75.05, for a total value of $15,010,000.00. Following the completion of the sale, the chief executive officer owned 960,769 shares in the company, valued at $72,105,713.45. This represents a 17.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Granat sold 25,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $75.09, for a total transaction of $1,877,250.00. Following the completion of the sale, the insider owned 478,845 shares of the company's stock, valued at approximately $35,956,471.05. This represents a 4.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 441,490 shares of company stock valued at $32,375,140 over the last 90 days. 1.25% of the stock is currently owned by company insiders.

Restaurant Brands International Company Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company formed through the combination of established brands. The company's principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International's business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI's restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

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