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Connor Clark & Lunn Investment Management Ltd. Acquires 693,164 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Restaurant Brands International logo with Retail/Wholesale background

Key Points

  • Connor Clark & Lunn Investment Management Ltd. increased its stake in Restaurant Brands International by 107.3%, acquiring 693,164 shares and now owns about 1,339,123 shares valued at approximately $89.3 million.
  • Restaurant Brands International reported earnings per share of $0.94 for the last quarter, falling short of the expected $0.97, but its revenue of $2.41 billion exceeded analyst expectations.
  • The company declared a quarterly dividend of $0.62 per share, which is set to be paid on October 7th, representing an annualized yield of 3.8%.
  • Want stock alerts on Restaurant Brands International? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Connor Clark & Lunn Investment Management Ltd. grew its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 107.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,339,123 shares of the restaurant operator's stock after acquiring an additional 693,164 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.41% of Restaurant Brands International worth $89,284,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QSR. GeoWealth Management LLC boosted its position in shares of Restaurant Brands International by 7.0% during the 4th quarter. GeoWealth Management LLC now owns 2,487 shares of the restaurant operator's stock valued at $162,000 after purchasing an additional 163 shares in the last quarter. Capital Analysts LLC increased its position in Restaurant Brands International by 24.3% during the fourth quarter. Capital Analysts LLC now owns 952 shares of the restaurant operator's stock worth $62,000 after acquiring an additional 186 shares during the period. Dunhill Financial LLC boosted its stake in Restaurant Brands International by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 400 shares of the restaurant operator's stock worth $26,000 after buying an additional 200 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Restaurant Brands International by 7.0% in the 4th quarter. Guggenheim Capital LLC now owns 3,438 shares of the restaurant operator's stock valued at $224,000 after purchasing an additional 226 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in Restaurant Brands International by 96.6% during the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company's stock.

Insider Transactions at Restaurant Brands International

In other news, insider Jacqueline Friesner sold 70,000 shares of Restaurant Brands International stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $70.08, for a total transaction of $4,905,600.00. Following the sale, the insider directly owned 182,897 shares in the company, valued at approximately $12,817,421.76. The trade was a 27.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QSR shares. Barclays decreased their price target on shares of Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Friday. Scotiabank decreased their target price on Restaurant Brands International from $75.00 to $71.00 and set a "sector perform" rating on the stock in a research report on Friday. Morgan Stanley dropped their price target on Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Truist Financial upped their price target on Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Melius began coverage on Restaurant Brands International in a report on Monday, July 14th. They set a "buy" rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $75.00.

View Our Latest Report on Restaurant Brands International

Restaurant Brands International Stock Performance

QSR traded up $0.64 on Monday, hitting $65.14. 2,512,317 shares of the company's stock were exchanged, compared to its average volume of 2,147,829. The firm has a market cap of $21.35 billion, a PE ratio of 24.67, a P/E/G ratio of 2.02 and a beta of 0.58. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $74.09. The stock has a fifty day moving average of $68.16 and a two-hundred day moving average of $66.51. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 2.69.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share (EPS) 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 analyst estimates of $2.33 billion. Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The company's quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. On average, research analysts anticipate that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio (DPR) is currently 93.94%.

Restaurant Brands International Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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