Lincluden Management Ltd. Acquires 207,618 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Lincluden Management Ltd. increased its stake in Restaurant Brands International Inc. by 81.3%, acquiring an additional 207,618 shares during the second quarter, bringing its total to 462,958 shares valued at approximately $30.68 million.
• A number of other institutional investors, including the Royal Bank of Canada and Vanguard Group Inc., also raised their holdings in Restaurant Brands International, indicating strong institutional interest in the company.
• Restaurant Brands International recently reported earnings per share of $0.94 for the quarter, missing expectations, while revenues increased by 15.9% year-over-year to $2.41 billion.

Lincluden Management Ltd. boosted its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 81.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 462,958 shares of the restaurant operator's stock after purchasing an additional 207,618 shares during the quarter. Restaurant Brands International comprises 3.4% of Lincluden Management Ltd.'s holdings, making the stock its 12th largest holding. Lincluden Management Ltd. owned 0.14% of Restaurant Brands International worth $30,682,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in Restaurant Brands International by 16.7% in the first quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator's stock worth $1,507,839,000 after purchasing an additional 3,230,735 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Restaurant Brands International by 7.6% during the first quarter. Vanguard Group Inc. now owns 14,169,061 shares of the restaurant operator's stock valued at $944,538,000 after acquiring an additional 1,003,563 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Restaurant Brands International by 7.0% during the first quarter. EdgePoint Investment Group Inc. now owns 13,715,604 shares of the restaurant operator's stock valued at $914,463,000 after acquiring an additional 896,034 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Restaurant Brands International by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,108,527 shares of the restaurant operator's stock valued at $540,352,000 after acquiring an additional 47,192 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Restaurant Brands International by 4.3% during the first quarter. 1832 Asset Management L.P. now owns 6,959,757 shares of the restaurant operator's stock valued at $463,798,000 after acquiring an additional 289,233 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $66.83 on Friday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01. Restaurant Brands International Inc. has a 52-week low of $58.71 and a 52-week high of $74.09. The firm has a market cap of $21.91 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.88 and a beta of 0.65. The business's fifty day moving average is $64.70 and its 200 day moving average is $66.27.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.03). The company had revenue of $2.41 billion for 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 for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Research analysts predict that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio is currently 93.94%.

Analysts Set New Price Targets

Several research firms have recently commented on QSR. Weiss Ratings restated a "hold (c+)" rating on shares of Restaurant Brands International in a report on Wednesday. Northcoast Research cut Restaurant Brands International from a "buy" rating to a "neutral" rating in a research report on Friday, September 12th. Morgan Stanley cut their target price on Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. Royal Bank Of Canada cut their target price on Restaurant Brands International from $80.00 to $77.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Loop Capital reissued a "buy" rating on shares of Restaurant Brands International in a research report on Thursday, June 26th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $75.13.

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.

Want to see what other hedge funds are holding QSR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR.

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.