Letko Brosseau & Associates Inc. Decreases Stake in Restaurant Brands International Inc. (NYSE:QSR)

Key Points

• Letko Brosseau & Associates Inc. reduced its holdings in Restaurant Brands International Inc. by 1.5%, owning approximately 451,905 shares worth $30.1 million at the end of the last quarter.
• During the first quarter, several institutional investors modified their positions, with Fiera Capital Corp increasing its holdings by 14.2% and Mackenzie Financial Corp by 17.1%.
• Restaurant Brands International missed earnings expectations, reporting $0.75 EPS and $2.03 billion in revenue, compared to estimates of $0.78 and $2.17 billion, respectively.

Letko Brosseau & Associates Inc. decreased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 451,905 shares of the restaurant operator's stock after selling 6,825 shares during the quarter. Letko Brosseau & Associates Inc. owned 0.14% of Restaurant Brands International worth $30,121,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Meritage Group LP increased its stake in shares of Restaurant Brands International by 5,795.9% in the fourth quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator's stock valued at $215,204,000 after buying an additional 3,245,689 shares during the period. Baupost Group LLC MA increased its stake in shares of Restaurant Brands International by 10,155.5% in 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 buying an additional 2,873,406 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Restaurant Brands International by 26.6% in the fourth quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator's stock valued at $834,478,000 after buying an additional 2,695,071 shares during the period. TD Asset Management Inc increased its stake in shares of Restaurant Brands International by 29.4% in the first quarter. TD Asset Management Inc now owns 4,631,461 shares of the restaurant operator's stock valued at $308,698,000 after buying an additional 1,053,640 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Restaurant Brands International by 967.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,087,542 shares of the restaurant operator's stock valued at $70,793,000 after buying an additional 985,615 shares during the period. Institutional investors and hedge funds own 82.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on QSR. Robert W. Baird lowered their price objective on Restaurant Brands International from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Loop Capital reiterated a "buy" rating on shares of Restaurant Brands International in a report on Thursday, June 26th. CIBC reduced their target price on Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating on the stock in a report on Friday, May 9th. Bank of America reduced their target price on Restaurant Brands International from $62.00 to $60.00 and set an "underperform" rating on the stock in a report on Friday, July 18th. Finally, Citigroup upped their target price on Restaurant Brands International from $75.00 to $76.00 and gave the company a "neutral" rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $76.09.

Insider Buying and Selling

In related news, insider Jacqueline Friesner sold 70,000 shares of the stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.36% of the company's stock.

Restaurant Brands International Stock Up 0.3%

Shares of QSR traded up $0.23 during trading hours on Friday, reaching $68.09. The stock had a trading volume of 1,607,764 shares, compared to its average volume of 1,789,943. Restaurant Brands International Inc. has a 12 month low of $58.71 and a 12 month high of $74.09. The firm has a 50-day simple moving average of $68.59 and a 200 day simple moving average of $66.16. 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 company has a market capitalization of $22.32 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 2.11 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. Restaurant Brands International'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 fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 24th. Restaurant Brands International's dividend payout ratio is presently 84.07%.

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.