BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 907,160 Shares of Restaurant Brands International Inc. $QSR

Key Points

• British Columbia Investment Management Corp has reduced its stake in Restaurant Brands International Inc. by 83.4%, selling 907,160 shares in the first quarter, leaving it with only 180,382 shares valued at approximately $12 million.
• Various institutional investors have increased their holdings in Restaurant Brands International, with Davis Selected Advisers acquiring a new stake worth roughly $224.7 million and Invesco Ltd. boosting its position by 465.8% in the same period.
• The company's recent earnings report showed a year-over-year revenue increase of 15.9%, though it fell short of analyst expectations with an EPS of $0.94 compared to the estimated $0.97.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 83.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,382 shares of the restaurant operator's stock after selling 907,160 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of Restaurant Brands International worth $12,027,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in QSR. Davis Selected Advisers bought a new stake in shares of Restaurant Brands International in the 1st quarter worth about $224,744,000. EdgePoint Investment Group Inc. lifted its holdings in Restaurant Brands International by 26.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator's stock valued at $834,478,000 after buying an additional 2,695,071 shares in the last quarter. Invesco Ltd. lifted its holdings in Restaurant Brands International by 465.8% during the 1st quarter. Invesco Ltd. now owns 2,644,757 shares of the restaurant operator's stock valued at $176,247,000 after buying an additional 2,177,302 shares in the last quarter. TD Asset Management Inc lifted its holdings in Restaurant Brands International by 29.4% during the 1st quarter. TD Asset Management Inc now owns 4,631,461 shares of the restaurant operator's stock valued at $308,698,000 after buying an additional 1,053,640 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Restaurant Brands International by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 14,169,061 shares of the restaurant operator's stock valued at $944,538,000 after buying an additional 1,003,563 shares in the last quarter. Institutional investors own 82.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup decreased their price objective on shares of Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Morgan Stanley cut their target price on shares of 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. Sanford C. Bernstein set a $78.00 target price on shares of Restaurant Brands International in a research report on Friday, August 8th. Royal Bank Of Canada cut their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, CIBC cut 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. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Restaurant Brands International has a consensus rating of "Hold" and a consensus price target of $75.04.

Restaurant Brands International Stock Down 0.8%

NYSE:QSR opened at $63.3070 on Friday. The company has a market cap of $20.75 billion, a PE ratio of 23.98, a P/E/G ratio of 2.73 and a beta of 0.58. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $74.09. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 2.69. The company's 50 day moving average is $67.14 and its two-hundred day moving average is $66.68.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released 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 company had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.33 billion. Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. Analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 23rd. Restaurant Brands International's payout ratio is currently 93.94%.

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.

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