Mufg Securities Canada LTD. Sells 22,391 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Mufg Securities Canada reduced its QSR stake by 4.4%, selling 22,391 shares and retaining 491,312 shares valued at approximately $35.6 million. Institutional investors and hedge funds collectively own 82.29% of Restaurant Brands International.
• Analysts remain generally positive, with 16 Buy ratings and eight Holds. The stock has a “Moderate Buy” consensus rating and an average price target of $83.91, above its reported opening price of $77.91.
• Restaurant Brands International exceeded quarterly earnings expectations, reporting $1.07 in EPS on $2.52 billion in revenue, while revenue increased 4.6% year over year. The company also declared a quarterly dividend of $0.65 per share, representing a 3.3% annualized yield.

Mufg Securities Canada LTD. trimmed its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 491,312 shares of the restaurant operator's stock after selling 22,391 shares during the period. Restaurant Brands International accounts for about 0.9% of Mufg Securities Canada LTD.'s portfolio, making the stock its 29th biggest holding. Mufg Securities Canada LTD. owned approximately 0.14% of Restaurant Brands International worth $35,579,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in QSR. Lloyd Advisory Services LLC. acquired a new position in shares of Restaurant Brands International in the fourth quarter valued at $25,000. Larson Financial Group LLC lifted its position in Restaurant Brands International by 1,922.2% during the fourth quarter. Larson Financial Group LLC now owns 364 shares of the restaurant operator's stock worth $25,000 after acquiring an additional 346 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of Restaurant Brands International in the first quarter valued at approximately $28,000. CoreCap Advisors LLC grew its position in shares of Restaurant Brands International by 304.3% in the second quarter. CoreCap Advisors LLC now owns 465 shares of the restaurant operator's stock valued at $34,000 after purchasing an additional 350 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Restaurant Brands International during the first quarter worth approximately $40,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on QSR shares. Barclays boosted their price target on Restaurant Brands International from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Robert W. Baird upped their target price on Restaurant Brands International from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, August 24th. TD Cowen raised their price target on Restaurant Brands International from $79.00 to $80.00 and gave the stock a "hold" rating in a research report on Thursday, July 9th. Wells Fargo & Company boosted their price target on Restaurant Brands International from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Finally, Guggenheim increased their price objective on shares of Restaurant Brands International from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Sixteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Restaurant Brands International has an average rating of "Moderate Buy" and a consensus target price of $83.91.

Restaurant Brands International Price Performance

Shares of QSR stock opened at $77.91 on Tuesday. The business has a fifty day simple moving average of $75.15 and a 200 day simple moving average of $74.70. The company has a market cap of $27.21 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.12 and a beta of 0.50. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 2.49. Restaurant Brands International Inc. has a twelve month low of $61.33 and a twelve month high of $81.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its earnings results on Thursday, August 6th. The restaurant operator reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. Restaurant Brands International had a return on equity of 33.43% and a net margin of 13.12%.The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business's quarterly revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Restaurant Brands International Inc. will post 4.03 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be given a $0.65 dividend. The ex-dividend date is Friday, September 18th. This represents a $2.60 dividend on an annualized basis and a yield of 3.3%. Restaurant Brands International's dividend payout ratio (DPR) is currently 69.89%.

Restaurant Brands International 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source