Bank of New York Mellon Corp Sells 33,544 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Bank of New York Mellon reduced its Restaurant Brands International stake by 3.2% in the fourth quarter, selling 33,544 shares and leaving it with 1,001,210 shares valued at about $68.3 million.
• Restaurant Brands International reported strong quarterly results, with EPS of $0.86 beating estimates and revenue of $2.26 billion topping expectations; revenue also rose 7.3% year over year.
• The company announced a quarterly dividend of $0.65 per share, equal to an annualized yield of 3.6%, while analysts currently rate the stock a Moderate Buy with an average price target of $83.54.

Bank of New York Mellon Corp trimmed its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,001,210 shares of the restaurant operator's stock after selling 33,544 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of Restaurant Brands International worth $68,313,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in QSR. AQR Capital Management LLC bought a new stake in shares of Restaurant Brands International in the first quarter worth about $237,000. WINTON GROUP Ltd bought a new stake in shares of Restaurant Brands International in the second quarter worth about $265,000. State Street Corp increased its stake in Restaurant Brands International by 9,477.4% during the second quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock worth $198,711,000 after acquiring an additional 2,966,048 shares during the last quarter. Sei Investments Co. increased its stake in Restaurant Brands International by 188.7% during the second quarter. Sei Investments Co. now owns 52,335 shares of the restaurant operator's stock worth $3,469,000 after acquiring an additional 34,210 shares during the last quarter. Finally, Treasurer of the State of North Carolina bought a new stake in Restaurant Brands International during the second quarter worth approximately $10,019,000. 82.29% of the stock is owned by institutional investors.

Restaurant Brands International Trading Up 1.7%

QSR opened at $72.74 on Wednesday. The stock has a market cap of $25.27 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 1.85 and a beta of 0.49. The stock's 50 day moving average price is $76.60 and its 200-day moving average price is $72.45. Restaurant Brands International Inc. has a one year low of $61.33 and a one year high of $81.96. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities analysts forecast that Restaurant Brands International Inc. will post 4.07 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Restaurant Brands International's dividend payout ratio is currently 91.55%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup reduced their price objective on Restaurant Brands International from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Scotia boosted their price objective on Restaurant Brands International from $81.00 to $83.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. Stifel Nicolaus raised Restaurant Brands International from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $68.00 to $90.00 in a research note on Monday, March 2nd. UBS Group boosted their price objective on Restaurant Brands International from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company boosted their price objective on Restaurant Brands International from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Restaurant Brands International has a consensus rating of "Moderate Buy" and an average target price of $83.54.

Insider Activity

In other news, insider Jacqueline Friesner sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $74.61, for a total transaction of $2,238,300.00. Following the transaction, the insider owned 165,727 shares of the company's stock, valued at approximately $12,364,891.47. This represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jill Granat sold 25,000 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $74.76, for a total value of $1,869,000.00. Following the transaction, the insider directly owned 478,845 shares in the company, valued at approximately $35,798,452.20. This represents a 4.96% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 350,000 shares of company stock valued at $26,198,650. 1.22% of the stock is currently owned by corporate 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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