Engineers Gate Manager LP Grows Position in Restaurant Brands International Inc. $QSR

Key Points

• Engineers Gate Manager LP increased its Restaurant Brands International stake by 150.7% in the second quarter, bringing its holdings to 36,429 shares valued at approximately $2.64 million. Institutional investors collectively own 82.29% of QSR.
• Analysts maintain a favorable outlook, with 16 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $84.00. QSR recently traded at $78.86.
• Restaurant Brands International exceeded quarterly EPS expectations, reporting $1.07 versus the $1.04 consensus, while revenue rose 4.6% year over year to $2.52 billion. The company also declared a quarterly dividend of $0.65 per share, representing a 3.3% annualized yield.

Engineers Gate Manager LP raised its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 150.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 36,429 shares of the restaurant operator's stock after purchasing an additional 21,897 shares during the period. Engineers Gate Manager LP's holdings in Restaurant Brands International were worth $2,641,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of QSR. Capital World Investors raised its stake in shares of Restaurant Brands International by 7.7% in the fourth quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator's stock worth $2,969,819,000 after buying an additional 3,095,167 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Restaurant Brands International by 16.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator's stock valued at $1,432,015,000 after acquiring an additional 2,703,134 shares during the period. Fiera Capital Corp increased its holdings in Restaurant Brands International by 38.2% in the 4th quarter. Fiera Capital Corp now owns 6,835,522 shares of the restaurant operator's stock worth $466,595,000 after acquiring an additional 1,889,359 shares in the last quarter. TD Asset Management Inc increased its holdings in Restaurant Brands International by 0.7% in the 4th quarter. TD Asset Management Inc now owns 5,544,780 shares of the restaurant operator's stock worth $378,851,000 after acquiring an additional 38,919 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Restaurant Brands International by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 5,216,985 shares of the restaurant operator's stock worth $365,279,000 after acquiring an additional 295,935 shares in the last quarter. Institutional investors own 82.29% of the company's stock.

Insiders Place Their Bets

In related news, insider Axel Schwan sold 57,574 shares of the firm's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $81.14, for a total transaction of $4,671,554.36. Following the completion of the transaction, the insider directly owned 209,908 shares of the company's stock, valued at approximately $17,031,935.12. This trade represents a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.22% of the company's stock.

Analyst Ratings Changes

QSR has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Restaurant Brands International from $78.00 to $79.00 and gave the company an "equal weight" rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Restaurant Brands International from $86.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. TD Cowen raised their price objective on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a "hold" rating in a research report on Thursday, July 9th. Guggenheim raised their price objective on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Finally, Evercore reaffirmed an "outperform" rating and issued a $88.00 target price on shares of Restaurant Brands International in a report on Friday, August 7th. Sixteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $84.00.

Restaurant Brands International Stock Up 2.5%

NYSE QSR opened at $78.86 on Tuesday. The stock's 50 day moving average is $76.22 and its 200 day moving average is $75.44. 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 Inc. has a 12 month low of $62.85 and a 12 month high of $81.96. The stock has a market cap of $27.50 billion, a PE ratio of 21.20, a P/E/G ratio of 2.15 and a beta of 0.51.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.03. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.52 billion. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. Research analysts predict that Restaurant Brands International Inc. will post 4.04 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, September 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.3%. Restaurant Brands International's dividend payout ratio is currently 69.89%.

Restaurant Brands International Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company that owns and operates a portfolio of well-known restaurant brands. Its principal brands are Burger King, Tim Hortons, Popeyes and Firehouse Subs, which serve products including hamburgers, chicken, sandwiches, coffee, baked goods and other prepared foods.

RBI primarily operates through a franchise-based business model, supporting independently owned and operated restaurants through brand management, restaurant development, marketing and supply-chain programs.

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