Cibc World Market Inc. Buys 883,464 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Cibc World Market Inc. increased its stake in Restaurant Brands International by 31.5% in the fourth quarter, buying 883,464 shares and bringing its total holdings to 3,689,706 shares worth about $251.7 million.
• Restaurant Brands International reported better-than-expected Q1 earnings, posting $0.86 EPS on revenue of $2.26 billion, with revenue up 7.3% year over year.
• The company declared a quarterly dividend of $0.65 per share to be paid July 7, implying an annualized yield of 3.6%, while analysts currently rate the stock a consensus Moderate Buy with a $83.54 target price.

Cibc World Market Inc. grew its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 31.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,689,706 shares of the restaurant operator's stock after acquiring an additional 883,464 shares during the quarter. Cibc World Market Inc. owned about 1.07% of Restaurant Brands International worth $251,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of QSR. Lloyd Advisory Services LLC. bought a new position in shares of Restaurant Brands International during the fourth quarter valued at $25,000. Larson Financial Group LLC increased its holdings in shares of Restaurant Brands International by 1,922.2% during the fourth quarter. Larson Financial Group LLC now owns 364 shares of the restaurant operator's stock valued at $25,000 after acquiring an additional 346 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Restaurant Brands International during the fourth quarter valued at $29,000. Global Retirement Partners LLC increased its holdings in shares of Restaurant Brands International by 231.1% during the fourth quarter. Global Retirement Partners LLC now owns 970 shares of the restaurant operator's stock valued at $66,000 after acquiring an additional 677 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Restaurant Brands International by 195.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,067 shares of the restaurant operator's stock valued at $73,000 after acquiring an additional 706 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QSR has been the subject of several analyst reports. BMO Capital Markets reduced their price target on Restaurant Brands International from $83.00 to $81.00 and set an "outperform" rating for the company in a report on Friday, February 13th. Royal Bank Of Canada raised their price target on Restaurant Brands International from $83.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 21st. CL King set a $81.00 price target on Restaurant Brands International in a report on Thursday, May 7th. Guggenheim raised their price target on Restaurant Brands International from $80.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Finally, KeyCorp lifted their price objective on Restaurant Brands International from $78.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, April 20th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.54.

Restaurant Brands International Price Performance

NYSE QSR opened at $72.80 on Thursday. Restaurant Brands International Inc. has a one year low of $61.33 and a one year high of $81.96. The stock has a 50-day moving average of $76.66 and a 200 day moving average of $72.33. The company has a market capitalization of $25.29 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.85 and a beta of 0.49. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company earned $0.75 EPS. Restaurant Brands International's revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that Restaurant Brands International Inc. will post 4.07 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, June 23rd. Restaurant Brands International's dividend payout ratio (DPR) is presently 91.55%.

Insider Buying and Selling

In other Restaurant Brands International news, insider Jacqueline Friesner sold 30,000 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $74.61, for a total value of $2,238,300.00. Following the transaction, the insider directly owned 165,727 shares of the company's stock, valued at approximately $12,364,891.47. This trade represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Housman sold 20,000 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $73.48, for a total value of $1,469,600.00. Following the completion of the transaction, the insider directly owned 162,077 shares in the company, valued at $11,909,417.96. The trade was a 10.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 350,000 shares of company stock worth $26,198,650 in the last three months. 1.22% of the stock is currently owned by company insiders.

Restaurant Brands International Company Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company formed through the combination of established brands. The company's principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International's business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI's restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

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