HB Wealth Management LLC Takes $526,000 Position in Restaurant Brands International Inc. (NYSE:QSR)

Key Points

• HB Wealth Management LLC has acquired a new position in Restaurant Brands International Inc. worth approximately $526,000 by purchasing 7,887 shares in the company's stock.
• During the first quarter, several other hedge funds significantly increased their holdings, with Allspring Global Investments raising its stake by 55.5% and Baupost Group LLC MA increasing its position by 10,155.5%.
• Restaurant Brands reported earnings of $0.75 per share, missing analysts' expectations and indicating a 21.3% year-over-year revenue growth to $2.03 billion despite falling short of revenue forecasts.

HB Wealth Management LLC bought a new stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,887 shares of the restaurant operator's stock, valued at approximately $526,000.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Restaurant Brands International by 55.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 70,857 shares of the restaurant operator's stock valued at $4,759,000 after purchasing an additional 25,292 shares during the last quarter. Baupost Group LLC MA lifted its holdings in shares of Restaurant Brands International by 10,155.5% during the fourth quarter. Baupost Group LLC MA now owns 2,901,700 shares of the restaurant operator's stock valued at $189,133,000 after purchasing an additional 2,873,406 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Restaurant Brands International by 96.6% during the first quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock valued at $35,000 after purchasing an additional 255 shares during the last quarter. Canoe Financial LP lifted its holdings in shares of Restaurant Brands International by 14.4% during the first quarter. Canoe Financial LP now owns 2,307,351 shares of the restaurant operator's stock valued at $153,834,000 after purchasing an additional 291,269 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Restaurant Brands International by 8.7% during the first quarter. Janney Montgomery Scott LLC now owns 5,889 shares of the restaurant operator's stock valued at $392,000 after purchasing an additional 470 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Restaurant Brands International Stock Down 1.3%

QSR opened at $67.84 on Friday. Restaurant Brands International Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $74.09. The business has a 50-day moving average of $68.59 and a 200-day moving average of $66.16. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.96 and a quick ratio of 0.90. The company has a market capitalization of $22.24 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 2.14 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its quarterly 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 return on equity of 28.94% and a net margin of 10.82%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the business earned $0.73 earnings per share. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 24th. Restaurant Brands International's dividend payout ratio (DPR) is presently 84.07%.

Insider Buying and Selling at Restaurant Brands International

In related news, insider Jacqueline Friesner sold 70,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $70.08, for a total value of $4,905,600.00. Following the transaction, the insider directly owned 182,897 shares of the company's stock, valued at approximately $12,817,421.76. This trade represents a 27.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.36% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QSR shares. Guggenheim upped their target price on Restaurant Brands International from $71.00 to $77.00 and gave the company a "buy" rating in a report on Friday, April 4th. Scotiabank raised Restaurant Brands International to a "hold" rating and set a $75.00 price objective for the company in a research note on Wednesday, June 18th. CIBC reduced their price objective on Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. Oppenheimer increased their price objective on Restaurant Brands International from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Finally, Truist Financial increased their price objective on Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $76.09.

About Restaurant Brands International

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.