Cullen Frost Bankers Inc. Has $10.90 Million Holdings in Restaurant Brands International Inc. $QSR

Key Points

• Cullen Frost Bankers increased its stake in Restaurant Brands International by 12.4% in the fourth quarter, ending with 159,816 shares valued at about $10.9 million.
• Several other large institutional investors also raised their QSR holdings, and 82.29% of the stock is owned by institutions, indicating strong professional investor interest.
• Restaurant Brands International reported better-than-expected quarterly results with EPS of $0.86 versus $0.83 expected, and it also announced a quarterly dividend of $0.65 per share to be paid July 7.

Cullen Frost Bankers Inc. boosted its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,816 shares of the restaurant operator's stock after buying an additional 17,652 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Restaurant Brands International were worth $10,904,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of QSR. Baupost Group LLC MA raised its stake in Restaurant Brands International by 103.8% during the third quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator's stock worth $529,337,000 after acquiring an additional 4,203,300 shares in the last quarter. State Street Corp grew its holdings in shares of Restaurant Brands International by 9,477.4% in the 2nd quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock worth $198,711,000 after purchasing an additional 2,966,048 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Restaurant Brands International by 15.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 14,903,208 shares of the restaurant operator's stock worth $955,855,000 after purchasing an additional 1,983,354 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Restaurant Brands International by 56.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,855,081 shares of the restaurant operator's stock worth $189,510,000 after purchasing an additional 1,029,500 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Restaurant Brands International by 62.2% during the 2nd quarter. Bank of America Corp DE now owns 2,339,967 shares of the restaurant operator's stock valued at $155,116,000 after purchasing an additional 897,742 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.

Insider Activity at Restaurant Brands International

In other news, insider Jeffrey Housman sold 20,000 shares of the company's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $73.48, for a total transaction of $1,469,600.00. Following the transaction, the insider owned 162,077 shares of the company's stock, valued at $11,909,417.96. This represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joshua Kobza sold 200,000 shares of the firm's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $75.05, for a total value of $15,010,000.00. Following the completion of the transaction, the chief executive officer owned 960,769 shares in the company, valued at approximately $72,105,713.45. This represents a 17.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 441,490 shares of company stock valued at $32,375,140 over the last quarter. 1.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on QSR. CL King set a $81.00 price target on shares of Restaurant Brands International in a research report on Thursday, May 7th. Piper Sandler upgraded shares of Restaurant Brands International from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $71.00 to $84.00 in a research note on Monday, March 2nd. Wells Fargo & Company boosted their target price on Restaurant Brands International from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. 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. Finally, Scotiabank lifted their price objective on Restaurant Brands International from $81.00 to $83.00 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.33.

Restaurant Brands International Price Performance

QSR opened at $76.51 on Thursday. Restaurant Brands International Inc. has a one year low of $61.33 and a one year high of $81.96. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.99 and a quick ratio of 0.90. The company's 50 day simple moving average is $76.50 and its 200-day simple moving average is $71.87. The stock has a market capitalization of $26.57 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 1.96 and a beta of 0.53.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Restaurant Brands International had a net margin of 9.96% and a return on equity of 32.80%. The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the previous year, the company posted $0.75 EPS. Restaurant Brands International's revenue was up 7.3% on a year-over-year basis. Sell-side analysts anticipate that Restaurant Brands International Inc. will post 4.06 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 7th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.4%. Restaurant Brands International's payout ratio is presently 91.55%.

About Restaurant Brands International

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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