Louisbourg Investments Inc. Sells 17,819 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Louisbourg Investments cut its Restaurant Brands International stake by 24.8%, selling 17,819 shares in the third quarter and retaining 54,111 shares valued at approximately $3.86 million.
• Institutional ownership remains substantial at 82.29%, with several other funds increasing their QSR positions, including Triasima Portfolio Management, which boosted its stake by 177.3%.
• QSR holds a “Moderate Buy” consensus rating from analysts, with an average price target of $83.52. The company recently reported quarterly EPS of $1.07, ahead of estimates, and pays a $2.60 annualized dividend yielding about 3.5%.

Louisbourg Investments Inc. lowered its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 24.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 54,111 shares of the restaurant operator's stock after selling 17,819 shares during the period. Louisbourg Investments Inc.'s holdings in Restaurant Brands International were worth $3,862,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hidden Cove Wealth Management LLC purchased a new stake in Restaurant Brands International in the third quarter valued at approximately $202,000. TD Waterhouse Canada Inc. lifted its stake in Restaurant Brands International by 4.4% during the third quarter. TD Waterhouse Canada Inc. now owns 2,583,329 shares of the restaurant operator's stock worth $180,116,000 after purchasing an additional 109,723 shares in the last quarter. NFSG Corp acquired a new position in Restaurant Brands International during the third quarter worth $28,000. Financial & Tax Architects LLC lifted its stake in Restaurant Brands International by 26.3% during the third quarter. Financial & Tax Architects LLC now owns 8,948 shares of the restaurant operator's stock worth $636,000 after purchasing an additional 1,861 shares in the last quarter. Finally, Triasima Portfolio Management inc. boosted its position in shares of Restaurant Brands International by 177.3% during the third quarter. Triasima Portfolio Management inc. now owns 74,318 shares of the restaurant operator's stock worth $5,301,000 after buying an additional 47,518 shares during the period. Hedge funds and other institutional investors own 82.29% of the company's stock.

Analyst Upgrades and Downgrades

QSR has been the subject of a number of research reports. Scotiabank dropped their price objective on Restaurant Brands International from $83.00 to $81.00 and set a "sector perform" rating for the company in a research note on Friday, August 7th. Piper Sandler cut their price objective on Restaurant Brands International from $85.00 to $81.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Citigroup cut their price objective on Restaurant Brands International from $80.00 to $79.00 and set a "neutral" rating on the stock in a report on Tuesday. Robert W. Baird increased their target price on Restaurant Brands International from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, August 24th. Finally, Scotia decreased their target price on Restaurant Brands International from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.52.

Restaurant Brands International Trading Up 1.1%

NYSE QSR opened at $75.18 on Wednesday. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $26.22 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.00 and a beta of 0.52. The firm has a 50 day simple moving average of $75.13 and a 200-day simple moving average of $75.29. Restaurant Brands International Inc. has a one year low of $64.52 and a one year high of $81.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.52 billion. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. Equities research analysts anticipate that Restaurant Brands International Inc. will post 4.19 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were paid a $0.65 dividend. The ex-dividend date was Friday, September 18th. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. Restaurant Brands International's payout ratio is 69.89%.

Insider Activity at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Schwan sold 57,574 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $81.14, for a total value of $4,671,554.36. Following the completion of the transaction, the insider owned 209,908 shares in the company, valued at $17,031,935.12. The trade was a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by company insiders.

Restaurant Brands International Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company that owns and operates a portfolio of restaurant brands, primarily through franchised and licensed locations. Its brands include Tim Hortons, Burger King, Popeyes and Firehouse Subs, which serve coffee, baked goods, burgers, chicken, sandwiches and other prepared foods.

The company was formed in 2014 through the merger of Burger King Worldwide and Tim Hortons. RBI expanded its portfolio through the acquisition of Popeyes Louisiana Kitchen in 2017 and Firehouse Restaurant Group in 2021.

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