Envestnet Asset Management Inc. Has $30.34 Million Stake in Restaurant Brands International Inc. (NYSE:QSR)

Envestnet Asset Management Inc. trimmed its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 9.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 455,205 shares of the restaurant operator's stock after selling 48,468 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of Restaurant Brands International worth $30,335,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in QSR. Capital World Investors raised its stake in shares of Restaurant Brands International by 2.0% during the fourth quarter. Capital World Investors now owns 43,418,188 shares of the restaurant operator's stock worth $2,829,974,000 after buying an additional 841,167 shares during the last quarter. Vanguard Group Inc. grew its holdings in Restaurant Brands International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 13,165,498 shares of the restaurant operator's stock worth $858,101,000 after acquiring an additional 421,873 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Restaurant Brands International by 26.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator's stock worth $834,478,000 after acquiring an additional 2,695,071 shares during the period. Norges Bank bought a new stake in shares of Restaurant Brands International during the 4th quarter valued at $264,813,000. Finally, Meritage Group LP lifted its stake in shares of Restaurant Brands International by 5,795.9% in the 4th quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator's stock valued at $215,204,000 after purchasing an additional 3,245,689 shares during the period. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QSR has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Loop Capital restated a "buy" rating on shares of Restaurant Brands International in a report on Thursday, June 26th. Morgan Stanley lowered their price target on Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating for the company in a research note on Monday. Argus upgraded shares of Restaurant Brands International from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Finally, UBS Group decreased their price objective on shares of Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating for the company in a report on Monday, May 5th. One 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 stock presently has a consensus rating of "Hold" and a consensus price target of $76.39.

Restaurant Brands International Stock Up 2.4%

Shares of NYSE QSR traded up $1.64 during midday trading on Thursday, reaching $69.60. The company's stock had a trading volume of 3,341,994 shares, compared to its average volume of 2,113,248. The stock has a 50 day simple moving average of $68.52 and a 200-day simple moving average of $65.71. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.98 and a beta of 0.58. Restaurant Brands International Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $75.07.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the business posted $0.73 EPS. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts predict that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 24th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Tuesday, June 24th. Restaurant Brands International's payout ratio is 84.07%.

Insider Activity

In related news, insider Jacqueline Friesner sold 70,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $70.08, for a total transaction of $4,905,600.00. Following the completion of the transaction, the insider directly owned 182,897 shares of the company's stock, valued at approximately $12,817,421.76. This represents a 27.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company's stock.

Restaurant Brands International Profile

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.