Canoe Financial LP Grows Stock Holdings in Restaurant Brands International Inc. $QSR

Key Points

• Canoe Financial LP has increased its shareholding in Restaurant Brands International Inc. by 10.1%, acquiring an additional 232,624 shares, bringing its total to approximately 2.54 million shares.
• Institutional investors own about 82.29% of Restaurant Brands International, with notable increases in holdings from several firms, including Allspring Global Investments and Raymond James Financial Inc..
• The company recently reported a quarterly earnings miss, posting $0.94 EPS, which fell short of analyst expectations of $0.97 per share.

Canoe Financial LP grew its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 10.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,539,975 shares of the restaurant operator's stock after acquiring an additional 232,624 shares during the period. Restaurant Brands International accounts for approximately 2.4% of Canoe Financial LP's investment portfolio, making the stock its 12th biggest position. Canoe Financial LP owned 0.77% of Restaurant Brands International worth $168,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HM Payson & Co. bought a new position in shares of Restaurant Brands International in the 1st quarter worth about $26,000. Private Trust Co. NA raised its position in shares of 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 acquiring an additional 255 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of 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 acquiring an additional 260 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Restaurant Brands International by 438.6% in the 1st quarter. Larson Financial Group LLC now owns 781 shares of the restaurant operator's stock worth $52,000 after acquiring an additional 636 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Restaurant Brands International in the 1st quarter worth about $56,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Restaurant Brands International Stock Performance

QSR stock traded up $0.82 during midday trading on Friday, reaching $63.75. 4,197,904 shares of the company's stock traded hands, compared to its average volume of 2,780,511. The firm has a market capitalization of $20.90 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.61. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $74.09. The company has a 50-day moving average price of $65.55 and a two-hundred day moving average price of $66.42. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly 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). 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 the consensus estimate of $2.33 billion. During the same period in the previous year, the company posted $0.86 EPS. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 23rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $2.48 annualized dividend and a dividend yield of 3.9%. Restaurant Brands International's dividend payout ratio (DPR) is presently 93.94%.

Analyst Ratings Changes

QSR has been the subject of a number of research analyst reports. Argus lowered Restaurant Brands International from a "buy" rating to a "hold" rating in a research report on Friday, August 15th. Loop Capital reaffirmed a "buy" rating on shares of Restaurant Brands International in a research report on Thursday, June 26th. Scotiabank decreased their target price on Restaurant Brands International from $75.00 to $71.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Oppenheimer boosted their target price on Restaurant Brands International from $77.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley decreased their target price on Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $75.04.

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.