Baskin Financial Services Inc. Increases Stock Position in Restaurant Brands International Inc. $QSR

Key Points

• Baskin Financial Services Inc. increased its stake in Restaurant Brands International Inc. by 1.3%, holding a total of 346,623 shares worth approximately $22.99 million as of the end of the last quarter.
• Several hedge funds have recently altered their positions in Restaurant Brands International, with a significant increase from CX Institutional, which grew its stake by 928% in the second quarter.
• Restaurant Brands International's recent earnings report showed a miss in earnings per share, coming in at $0.94 versus an estimated $0.97, despite a year-over-year revenue increase of 15.9%.

Baskin Financial Services Inc. increased its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 1.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 346,623 shares of the restaurant operator's stock after acquiring an additional 4,424 shares during the period. Restaurant Brands International comprises approximately 1.7% of Baskin Financial Services Inc.'s holdings, making the stock its 27th largest position. Baskin Financial Services Inc. owned approximately 0.11% of Restaurant Brands International worth $22,990,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in QSR. HM Payson & Co. purchased a new position in Restaurant Brands International in the 1st quarter worth approximately $26,000. Legend Financial Advisors Inc. bought a new stake in Restaurant Brands International in the 2nd quarter worth approximately $33,000. CX Institutional grew its position in Restaurant Brands International by 928.0% in the 2nd quarter. CX Institutional now owns 514 shares of the restaurant operator's stock worth $34,000 after purchasing an additional 464 shares during the period. Private Trust Co. NA grew its position in Restaurant Brands International by 96.6% in 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 period. Finally, Smartleaf Asset Management LLC grew its position in Restaurant Brands International by 91.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 545 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 260 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on QSR. Barclays cut their target price on shares of Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada cut their target price on shares of Restaurant Brands International from $80.00 to $77.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Argus downgraded shares of Restaurant Brands International from a "buy" rating to a "hold" rating in a research report on Friday, August 15th. Citigroup lowered their target price on Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Finally, Morgan Stanley lowered their target price on Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Restaurant Brands International has an average rating of "Hold" and an average price target of $75.13.

Restaurant Brands International Trading Down 0.9%

Shares of Restaurant Brands International stock opened at $66.67 on Friday. The company has a market capitalization of $21.85 billion, a P/E ratio of 25.25, a P/E/G ratio of 2.90 and a beta of 0.65. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01. The company has a fifty day moving average of $64.72 and a 200 day moving average of $66.28. Restaurant Brands International Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $74.09.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its earnings results 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). The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.33 billion. Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The company's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS. On average, sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal 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 issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio is 93.94%.

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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