Restaurant Brands International Inc. (NYSE:QSR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 73.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,126 shares of the restaurant operator's stock after selling 975,266 shares during the period. Bank of New York Mellon Corp owned approximately 0.11% of Restaurant Brands International worth $23,732,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Inkwell Capital LLC purchased a new position in shares of Restaurant Brands International in the 4th quarter valued at $3,370,000. Allspring Global Investments Holdings LLC grew its position in Restaurant Brands International by 55.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,857 shares of the restaurant operator's stock worth $4,759,000 after purchasing an additional 25,292 shares during the last quarter. Baupost Group LLC MA grew its position in Restaurant Brands International by 10,155.5% during the 4th 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 last quarter. Private Trust Co. NA grew its position in Restaurant Brands International by 96.6% during the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 255 shares during the last quarter. Finally, Canoe Financial LP grew its position in Restaurant Brands International by 14.4% during the 1st quarter. Canoe Financial LP now owns 2,307,351 shares of the restaurant operator's stock worth $153,834,000 after purchasing an additional 291,269 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QSR has been the topic of several research reports. UBS Group lowered their price objective on shares of Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. CIBC lowered their price objective on shares of Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating on the stock in a research report on Friday, May 9th. Citigroup lowered their price objective on shares of Restaurant Brands International from $67.00 to $66.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird reduced their target price on shares of 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, Morgan Stanley reduced their target price on shares of Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $75.65.

Restaurant Brands International Trading Down 0.5%

Shares of NYSE QSR traded down $0.34 during midday trading on Friday, reaching $69.23. 1,606,388 shares of the stock were exchanged, compared to its average volume of 2,111,587. The company has a market capitalization of $22.69 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.01 and a beta of 0.58. Restaurant Brands International Inc. has a 52-week low of $58.71 and a 52-week high of $74.79. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 2.84. The stock has a 50 day moving average price of $68.56 and a 200-day moving average price of $65.75.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings results 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 return on equity of 28.94% and a net margin of 10.82%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The business's quarterly revenue was up 21.3% compared to the same quarter last year. Equities research analysts expect that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th were issued a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.48 dividend on an annualized basis and a yield of 3.58%. Restaurant Brands International's payout ratio is 84.07%.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of Restaurant Brands International stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $70.08, for a total transaction of $4,905,600.00. Following the transaction, the insider directly owned 182,897 shares of the company's stock, valued at $12,817,421.76. The trade was a 27.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.36% of the stock is currently owned by company insiders.

Restaurant Brands International 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.