Goldman Sachs Group Inc. Sells 7,712,323 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Goldman Sachs cut its Restaurant Brands International stake by 75.3% in the fourth quarter, selling 7,712,323 shares and leaving it with 2,523,391 shares valued at about $172.2 million.
• Insider selling was also notable: Thiago T. Santelmo and Jacqueline Friesner sold shares in March, and insiders sold 350,000 shares total in the last quarter.
• Restaurant Brands International beat quarterly earnings and revenue expectations, while analysts remain constructive overall with a consensus Moderate Buy rating and an average price target of $83.54.

Goldman Sachs Group Inc. lessened its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 75.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,523,391 shares of the restaurant operator's stock after selling 7,712,323 shares during the period. Goldman Sachs Group Inc. owned 0.73% of Restaurant Brands International worth $172,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in QSR. Lloyd Advisory Services LLC. acquired a new position in shares of Restaurant Brands International in the fourth quarter valued at $25,000. Larson Financial Group LLC boosted its holdings in shares of Restaurant Brands International by 1,922.2% during the 4th quarter. Larson Financial Group LLC now owns 364 shares of the restaurant operator's stock worth $25,000 after buying an additional 346 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Restaurant Brands International during the 4th quarter worth about $29,000. Global Retirement Partners LLC grew its stake in Restaurant Brands International by 231.1% in the 4th quarter. Global Retirement Partners LLC now owns 970 shares of the restaurant operator's stock valued at $66,000 after buying an additional 677 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Restaurant Brands International by 195.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,067 shares of the restaurant operator's stock valued at $73,000 after buying an additional 706 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company's stock.

Insider Activity

In other news, insider Thiago T. Santelmo sold 10,000 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $75.41, for a total transaction of $754,100.00. Following the completion of the sale, the insider directly owned 78,560 shares in the company, valued at approximately $5,924,209.60. This represents a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline Friesner sold 30,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $74.61, for a total value of $2,238,300.00. Following the sale, the insider directly owned 165,727 shares in the company, valued at approximately $12,364,891.47. This trade represents a 15.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 350,000 shares of company stock worth $26,198,650. 1.22% of the stock is owned by insiders.

Restaurant Brands International Stock Performance

Shares of NYSE:QSR opened at $72.60 on Monday. Restaurant Brands International Inc. has a 12-month low of $61.33 and a 12-month high of $81.96. The company's 50 day moving average price is $76.61 and its two-hundred day moving average price is $72.38. The firm has a market cap of $25.22 billion, a PE ratio of 25.56, a PEG ratio of 1.88 and a beta of 0.49. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Restaurant Brands International had a net margin of 9.96% and a return on equity of 32.80%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. Equities research analysts predict that Restaurant Brands International Inc. will post 4.07 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.60 annualized dividend and a yield of 3.6%. Restaurant Brands International's payout ratio is currently 91.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Restaurant Brands International from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Oppenheimer upped their target price on Restaurant Brands International from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Wednesday, March 18th. CL King set a $81.00 target price on Restaurant Brands International in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their price target on Restaurant Brands International from $83.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, April 21st. Finally, Sanford C. Bernstein set a $82.00 price objective on Restaurant Brands International in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $83.54.

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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