Canoe Financial LP Buys 291,269 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Canoe Financial LP grew its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,307,351 shares of the restaurant operator's stock after buying an additional 291,269 shares during the quarter. Restaurant Brands International accounts for 2.5% of Canoe Financial LP's investment portfolio, making the stock its 14th biggest position. Canoe Financial LP owned 0.70% of Restaurant Brands International worth $153,834,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors increased its stake in Restaurant Brands International by 2.0% in the fourth quarter. Capital World Investors now owns 43,418,188 shares of the restaurant operator's stock valued at $2,829,974,000 after acquiring an additional 841,167 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Restaurant Brands International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 13,165,498 shares of the restaurant operator's stock valued at $858,101,000 after purchasing an additional 421,873 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of 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 purchasing an additional 2,695,071 shares during the last quarter. Norges Bank purchased a new position in shares of Restaurant Brands International during the 4th quarter valued at about $264,813,000. Finally, Meritage Group LP lifted its position in Restaurant Brands International by 5,795.9% in the 4th quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator's stock worth $215,204,000 after buying an additional 3,245,689 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on QSR. JPMorgan Chase & Co. reduced their price target on shares of Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. UBS Group cut their price objective on shares of 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. Robert W. Baird decreased their target price on shares of Restaurant Brands International from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Citigroup lowered their price target on shares of Restaurant Brands International from $67.00 to $66.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Loop Capital reaffirmed a "buy" rating on shares of Restaurant Brands International in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $75.68.

Restaurant Brands International Trading Down 0.0%

Shares of QSR traded down $0.01 during trading hours on Friday, reaching $66.09. 1,823,949 shares of the company traded hands, compared to its average volume of 1,927,470. Restaurant Brands International Inc. has a 12 month low of $58.71 and a 12 month high of $75.07. The company has a quick ratio of 0.90, a current ratio of 0.96 and a debt-to-equity ratio of 2.84. The company's fifty day moving average price is $67.48 and its two-hundred day moving average price is $65.76. The company has a market capitalization of $21.66 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. Restaurant Brands International had a return on equity of 28.94% and a net margin of 10.82%. Restaurant Brands International's quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 earnings per share. Equities research analysts predict that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 24th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Tuesday, June 24th. Restaurant Brands International's payout ratio is presently 84.07%.

Insider Activity

In related news, insider Jacqueline Friesner sold 70,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $70.08, for a total value of $4,905,600.00. Following the completion of the transaction, the insider now directly owns 182,897 shares in the company, valued at $12,817,421.76. This trade represents a 27.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.36% of the stock is currently owned by company insiders.

Restaurant Brands International Company 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.