Legal & General Group Plc Buys 81,533 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Legal & General Group Plc increased its stake in Restaurant Brands International by 5.1% in the fourth quarter, buying 81,533 additional shares and bringing its holding to 1,693,511 shares worth about $115.7 million.
• Insiders have been selling shares, including CEO Joshua Kobza’s sale of 200,000 shares and Jeffrey Housman’s sale of 20,000 shares; insiders sold 350,000 shares total over the last 90 days.
• Restaurant Brands International beat quarterly expectations, reporting EPS of $0.86 on revenue of $2.26 billion, while analysts remain broadly positive with a “Moderate Buy” consensus and an average price target of $83.54.

Legal & General Group Plc grew its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,693,511 shares of the restaurant operator's stock after purchasing an additional 81,533 shares during the quarter. Legal & General Group Plc owned about 0.49% of Restaurant Brands International worth $115,708,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QSR. AQR Capital Management LLC bought a new position in Restaurant Brands International in the 1st quarter worth $237,000. WINTON GROUP Ltd bought a new position in Restaurant Brands International in the 2nd quarter worth $265,000. State Street Corp raised its holdings in Restaurant Brands International by 9,477.4% in the 2nd quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock worth $198,711,000 after purchasing an additional 2,966,048 shares in the last quarter. Sei Investments Co. raised its holdings in Restaurant Brands International by 188.7% in the 2nd quarter. Sei Investments Co. now owns 52,335 shares of the restaurant operator's stock worth $3,469,000 after purchasing an additional 34,210 shares in the last quarter. Finally, Treasurer of the State of North Carolina bought a new position in Restaurant Brands International in the 2nd quarter worth $10,019,000. 82.29% of the stock is currently owned by institutional investors.

Insider Activity at Restaurant Brands International

In related news, CEO Joshua Kobza sold 200,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $75.05, for a total transaction of $15,010,000.00. Following the sale, the chief executive officer directly owned 960,769 shares of the company's stock, valued at approximately $72,105,713.45. This represents a 17.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Housman sold 20,000 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $73.48, for a total transaction of $1,469,600.00. Following the sale, the insider directly owned 162,077 shares in the company, valued at $11,909,417.96. This trade represents a 10.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 350,000 shares of company stock worth $26,198,650 in the last ninety days. 1.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on QSR shares. KeyCorp upped their price objective on shares of Restaurant Brands International from $78.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, April 20th. Robert W. Baird upped their price objective on shares of Restaurant Brands International from $72.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Piper Sandler upgraded shares of Restaurant Brands International from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $71.00 to $84.00 in a report on Monday, March 2nd. UBS Group upped their target price on shares of Restaurant Brands International from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Scotia upped their target price on shares of Restaurant Brands International from $81.00 to $83.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $83.54.

Restaurant Brands International Stock Down 0.6%

Shares of NYSE:QSR opened at $74.29 on Friday. The stock has a fifty day simple moving average of $76.76 and a two-hundred day simple moving average of $72.23. The stock has a market capitalization of $25.80 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.94 and a beta of 0.53. Restaurant Brands International Inc. has a 12-month low of $61.33 and a 12-month high of $81.96. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 2.55.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, research analysts anticipate that Restaurant Brands International Inc. will post 4.06 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Restaurant Brands International's dividend payout ratio is 91.55%.

Restaurant Brands International Company Profile

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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