Mackenzie Financial Corp Buys 717,867 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Key Points

• Mackenzie Financial Corp increased its stake in Restaurant Brands International Inc. by 17.1%, now holding approximately 4.9 million shares valued at about $327.49 million.
• Several hedge funds, including Baupost Group LLC and Allspring Global Investments Holdings LLC, have significantly boosted their positions in Restaurant Brands International, leading to 82.29% of the stock being owned by institutional investors.
• Despite increased revenue year-over-year, Restaurant Brands International reported quarterly earnings of $0.75 per share, missing analysts' expectations of $0.78.

Mackenzie Financial Corp boosted its position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,912,807 shares of the restaurant operator's stock after buying an additional 717,867 shares during the period. Mackenzie Financial Corp owned 1.50% of Restaurant Brands International worth $327,486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Inkwell Capital LLC acquired a new stake in shares of Restaurant Brands International during the 4th quarter valued at approximately $3,370,000. Allspring Global Investments Holdings LLC increased its stake in Restaurant Brands International by 55.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 70,857 shares of the restaurant operator's stock valued at $4,759,000 after purchasing an additional 25,292 shares during the last quarter. Baupost Group LLC MA boosted its position 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 worth $189,133,000 after acquiring an additional 2,873,406 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Restaurant Brands International by 96.6% during the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock valued at $35,000 after buying an additional 255 shares during the period. Finally, Canoe Financial LP raised its holdings in shares of Restaurant Brands International by 14.4% in the 1st quarter. Canoe Financial LP now owns 2,307,351 shares of the restaurant operator's stock worth $153,834,000 after purchasing an additional 291,269 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Loop Capital restated a "buy" rating on shares of Restaurant Brands International in a research note on Thursday, June 26th. CIBC dropped their price target on shares of 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. Truist Financial boosted their price target on Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Melius assumed coverage on shares of Restaurant Brands International in a research report on Monday, July 14th. They set a "buy" rating and a $90.00 price target on the stock. Finally, Guggenheim increased their price target on Restaurant Brands International from $71.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $76.09.

Restaurant Brands International Stock Performance

QSR stock traded down $0.96 on Thursday, reaching $67.75. 604,005 shares of the company were exchanged, compared to its average volume of 2,476,400. The firm has a market capitalization of $22.21 billion, a PE ratio of 22.95, a PEG ratio of 2.14 and a beta of 0.58. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.96 and a quick ratio of 0.90. Restaurant Brands International Inc. has a 12 month low of $58.71 and a 12 month high of $74.09. The stock's fifty day moving average price is $68.62 and its 200 day moving average price is $66.11.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business earned $0.73 earnings per share. The company's revenue for the quarter was up 21.3% on a year-over-year basis. On average, research analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 24th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Tuesday, June 24th. Restaurant Brands International's dividend payout ratio is 84.07%.

Insider Buying and Selling

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of the stock in a transaction dated 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 in the company, valued at $12,817,421.76. This represents a 27.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.36% of the company's stock.

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.