Bank of New York Mellon Corp Takes Position in Restaurant Brands International Inc. $QSR

Key Points

• Bank of New York Mellon acquired 1.09 million shares of Restaurant Brands International in the second quarter, valued at approximately $78.7 million, while institutional investors collectively owned 82.29% of QSR.
• Restaurant Brands International reported quarterly earnings of $1.07 per share, exceeding estimates by $0.03, as revenue rose 4.6% year over year to $2.52 billion.
• The company declared a quarterly dividend of $0.65 per share, equivalent to a 3.2% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $83.91.

Bank of New York Mellon Corp acquired a new position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,085,058 shares of the restaurant operator's stock, valued at approximately $78,678,000. Bank of New York Mellon Corp owned approximately 0.31% of Restaurant Brands International as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Capital World Investors boosted its position in Restaurant Brands International by 7.7% during the fourth quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator's stock valued at $2,969,819,000 after purchasing an additional 3,095,167 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in Restaurant Brands International by 16.2% during the first quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator's stock valued at $1,432,015,000 after purchasing an additional 2,703,134 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Restaurant Brands International by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 15,983,585 shares of the restaurant operator's stock valued at $1,090,684,000 after purchasing an additional 344,066 shares during the period. Morgan Stanley grew its position in shares of Restaurant Brands International by 24.2% in the fourth quarter. Morgan Stanley now owns 8,429,121 shares of the restaurant operator's stock valued at $575,119,000 after purchasing an additional 1,641,870 shares during the last quarter. Finally, Baupost Group LLC MA grew its position in shares of Restaurant Brands International by 103.8% in the third 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. 82.29% of the stock is owned by hedge funds and other institutional investors.

Restaurant Brands International Stock Performance

Restaurant Brands International stock opened at $81.60 on Wednesday. The firm has a market capitalization of $28.50 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.21 and a beta of 0.50. The stock has a fifty day moving average price of $74.74 and a two-hundred day moving average price of $74.48. Restaurant Brands International Inc. has a 52-week low of $61.33 and a 52-week high of $81.96. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.01 and a quick ratio of 0.92.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. During the same period in the previous year, the firm posted $0.94 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. As a group, analysts anticipate that Restaurant Brands International Inc. will post 4.03 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $2.60 annualized dividend and a yield of 3.2%. Restaurant Brands International's dividend payout ratio (DPR) is presently 69.89%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. TD Cowen increased their price target on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a "hold" rating in a report on Thursday, July 9th. Wells Fargo & Company lifted their target price on Restaurant Brands International from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. CL King set a $80.00 price target on Restaurant Brands International in a research note on Monday, August 10th. Scotia cut their price target on Restaurant Brands International from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Friday, August 7th. Finally, Barclays raised their price objective on Restaurant Brands International from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.91.

Restaurant Brands International 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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