Hsbc Holdings PLC Sells 25,377 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Hsbc Holdings PLC has reduced its stake in Restaurant Brands International by 20.7%, leaving it with 97,088 shares valued at approximately $6.47 million following the sale of 25,377 shares.
• Despite the stake reduction, the company received increased investments from several other firms, resulting in 82.29% of its stock now being held by hedge funds and institutional investors.
• Analysts have revised their price targets for Restaurant Brands International, with UBS lowering its target from $90.00 to $85.00 while the average price target now stands at $75.04, reflecting a generally cautious sentiment.

Hsbc Holdings PLC trimmed its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 20.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,088 shares of the restaurant operator's stock after selling 25,377 shares during the quarter. Hsbc Holdings PLC's holdings in Restaurant Brands International were worth $6,472,000 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 made changes to their positions in QSR. Davis Selected Advisers acquired a new position in shares of Restaurant Brands International in the 1st quarter valued at about $224,744,000. EdgePoint Investment Group Inc. raised its stake 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 buying an additional 2,695,071 shares during the period. Invesco Ltd. raised its stake in Restaurant Brands International by 465.8% during the 1st quarter. Invesco Ltd. now owns 2,644,757 shares of the restaurant operator's stock worth $176,247,000 after buying an additional 2,177,302 shares during the period. TD Asset Management Inc raised its stake in Restaurant Brands International by 29.4% during the 1st quarter. TD Asset Management Inc now owns 4,631,461 shares of the restaurant operator's stock worth $308,698,000 after buying an additional 1,053,640 shares during the period. Finally, Vanguard Group Inc. raised its stake in Restaurant Brands International by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 14,169,061 shares of the restaurant operator's stock worth $944,538,000 after buying an additional 1,003,563 shares during the period. 82.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on QSR shares. Melius started coverage on Restaurant Brands International in a research note on Monday, July 14th. They set a "buy" rating and a $90.00 price target on the stock. Piper Sandler dropped their price target on Restaurant Brands International from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Oppenheimer upped their price target 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. Argus downgraded Restaurant Brands International from a "buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, CIBC dropped their price target on Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating on the stock in a research note on Friday, May 9th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $75.04.

Restaurant Brands International Stock Up 0.7%

QSR traded up $0.45 during midday trading on Thursday, reaching $63.08. 2,379,057 shares of the company were exchanged, compared to its average volume of 2,454,701. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01. The company's fifty day moving average price is $66.84 and its 200 day moving average price is $66.61. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $74.09.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.03). The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.33 billion. Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The business's revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share. As a group, analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio is 93.94%.

Restaurant Brands International Company 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.