Burgundy Asset Management Ltd. Acquires 425,203 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Burgundy Asset Management Ltd. increased its stake in Restaurant Brands International Inc. by 36.4%, acquiring an additional 425,203 shares, bringing its total holdings to 1,592,502 shares valued at approximately $106.3 million.
• The company's recent earnings report indicated a missed EPS estimate at $0.94 compared to analyst expectations of $0.97, although revenue rose 15.9% year-over-year to $2.41 billion.
• Restaurant Brands International announced a quarterly dividend of $0.62 per share, with a planned payout date on October 7, boosting its annualized dividend to $2.48 and yielding 3.8% for shareholders.

Burgundy Asset Management Ltd. increased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 36.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,592,502 shares of the restaurant operator's stock after acquiring an additional 425,203 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.49% of Restaurant Brands International worth $106,266,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Restaurant Brands International by 55.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,857 shares of the restaurant operator's stock valued at $4,759,000 after purchasing an additional 25,292 shares during the period. Private Trust Co. NA boosted its stake 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 valued at $35,000 after purchasing an additional 255 shares during the period. Canoe Financial LP boosted its stake in Restaurant Brands International by 14.4% in the 1st quarter. Canoe Financial LP now owns 2,307,351 shares of the restaurant operator's stock valued at $153,834,000 after purchasing an additional 291,269 shares during the period. Janney Montgomery Scott LLC boosted its stake in Restaurant Brands International by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,889 shares of the restaurant operator's stock valued at $392,000 after purchasing an additional 470 shares during the period. Finally, Advisor Resource Council bought a new stake in Restaurant Brands International in the 1st quarter valued at $333,000. 82.29% of the stock is currently owned by institutional investors.

Restaurant Brands International Price Performance

Shares of NYSE:QSR traded down $0.2280 during trading on Friday, reaching $63.5620. 715,902 shares of the company traded hands, compared to its average volume of 2,463,753. The company's 50 day moving average is $67.22 and its two-hundred day moving average is $66.64. The firm has a market capitalization of $20.84 billion, a PE ratio of 24.12, a PEG ratio of 2.75 and a beta of 0.58. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 2.69. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $74.09.

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 analysts' consensus estimates of $0.97 by ($0.03). The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.33 billion. Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The business's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. As a group, sell-side analysts predict that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors 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 dividend yield of 3.9%. The ex-dividend date is Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio is currently 93.94%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QSR. Scotiabank reduced their price target on Restaurant Brands International from $75.00 to $71.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. UBS Group reduced their price target on Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, May 5th. CIBC reduced their price target on Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. Oppenheimer boosted their price target on Restaurant Brands International from $77.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Finally, Barclays cut their target price on 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. Eleven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $75.04.

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.