Canada Pension Plan Investment Board Sells 1,155,776 Shares of Restaurant Brands International Inc. $QSR

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Restaurant Brands International by 38.8%, owning approximately 1,825,581 shares worth $121.55 million at the end of the first quarter.
• Restaurant Brands International's recent earnings report showed a missed EPS estimate of $0.94, compared to the consensus estimate of $0.97, despite a 15.9% year-over-year revenue increase to $2.41 billion.
• The company announced a quarterly dividend of $0.62 per share, with a dividend yield of 3.9%, and a current dividend payout ratio of 93.94%.

Canada Pension Plan Investment Board trimmed its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 38.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,825,581 shares of the restaurant operator's stock after selling 1,155,776 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.56% of Restaurant Brands International worth $121,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of Restaurant Brands International by 28.1% during the 4th quarter. First Trust Advisors LP now owns 45,797 shares of the restaurant operator's stock valued at $2,984,000 after buying an additional 10,033 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Restaurant Brands International by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 974,868 shares of the restaurant operator's stock valued at $63,541,000 after buying an additional 195,340 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Restaurant Brands International by 207.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,006 shares of the restaurant operator's stock valued at $261,000 after buying an additional 2,702 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Restaurant Brands International by 2.9% during the 4th quarter. Stifel Financial Corp now owns 17,536 shares of the restaurant operator's stock valued at $1,143,000 after buying an additional 487 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Restaurant Brands International by 68.0% during the 4th quarter. Northern Trust Corp now owns 266,880 shares of the restaurant operator's stock valued at $17,395,000 after buying an additional 107,997 shares in the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QSR has been the topic of a number of recent research reports. Bank of America dropped their price target on shares of Restaurant Brands International from $62.00 to $60.00 and set an "underperform" rating on the stock in a research note on Friday, July 18th. CIBC dropped their price target on shares of Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating on the stock in a research note on Friday, May 9th. Loop Capital restated a "buy" rating on shares of Restaurant Brands International in a research note on Thursday, June 26th. Scotiabank dropped their price target on shares of Restaurant Brands International from $75.00 to $71.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Finally, Sanford C. Bernstein set a $78.00 price target on shares of Restaurant Brands International in a research note on Friday, August 8th. Eleven research 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 MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $75.04.

Restaurant Brands International Price Performance

NYSE QSR traded down $0.10 on Wednesday, hitting $62.40. The stock had a trading volume of 1,311,045 shares, compared to its average volume of 2,474,219. Restaurant Brands International Inc. has a 52-week low of $58.71 and a 52-week high of $74.09. 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 market capitalization of $20.45 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.73 and a beta of 0.61. The firm has a 50-day moving average of $66.68 and a 200-day moving average of $66.55.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.03). Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 23rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.0%. Restaurant Brands International's dividend payout ratio is presently 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.