Empowered Funds LLC Reduces Position in Restaurant Brands International Inc. $QSR

Empowered Funds LLC trimmed its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 59.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,396 shares of the restaurant operator's stock after selling 16,719 shares during the period. Empowered Funds LLC's holdings in Restaurant Brands International were worth $842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Restaurant Brands International by 4.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,126 shares of the restaurant operator's stock valued at $453,000 after purchasing an additional 279 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Restaurant Brands International in the first quarter worth about $1,462,000. Western Wealth Management LLC purchased a new position in shares of Restaurant Brands International in the first quarter worth about $28,000. Bank of America Corp DE raised its stake in shares of Restaurant Brands International by 143.9% in the first quarter. Bank of America Corp DE now owns 4,932,662 shares of the restaurant operator's stock worth $364,524,000 after purchasing an additional 2,910,454 shares during the last quarter. Finally, Strategic Investment Advisors MI boosted its position in Restaurant Brands International by 77.3% in the first quarter. Strategic Investment Advisors MI now owns 10,946 shares of the restaurant operator's stock valued at $810,000 after buying an additional 4,772 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QSR. JPMorgan Chase & Co. increased their price target on shares of Restaurant Brands International from $77.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Morgan Stanley lifted their price objective on shares of Restaurant Brands International from $78.00 to $79.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 15th. Scotia cut their price objective on shares of Restaurant Brands International from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Friday, August 7th. Citigroup cut their price objective on shares of Restaurant Brands International from $84.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Finally, Piper Sandler reduced their target price on shares of Restaurant Brands International from $85.00 to $81.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Restaurant Brands International presently has an average rating of "Moderate Buy" and an average target price of $83.70.

Restaurant Brands International Trading Down 0.6%

Restaurant Brands International stock opened at $77.16 on Tuesday. The firm has a market cap of $26.95 billion, a PE ratio of 20.74, a P/E/G ratio of 2.11 and a beta of 0.50. Restaurant Brands International Inc. has a 12 month low of $61.33 and a 12 month high of $81.96. The stock's 50 day simple moving average is $74.13 and its two-hundred day simple moving average is $73.97. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 2.49.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that Restaurant Brands International Inc. will post 4.03 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, September 18th. Restaurant Brands International's dividend payout ratio (DPR) is currently 69.89%.

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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