NewEdge Wealth LLC Acquires Shares of 29,958 Restaurant Brands International Inc. $QSR

Key Points

• NewEdge Wealth LLC initiated a new position in Restaurant Brands International, buying 29,958 shares worth about $2.21 million in the first quarter.
• Institutional ownership remains very high, with hedge funds and other investors holding 82.29% of the company’s shares, and several firms recently boosted their stakes.
• Restaurant Brands International reported better-than-expected Q1 earnings of $0.86 per share on revenue of $2.26 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $83.86.

NewEdge Wealth LLC bought a new position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,958 shares of the restaurant operator's stock, valued at approximately $2,214,000.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Restaurant Brands International by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 5,216,985 shares of the restaurant operator's stock valued at $365,279,000 after purchasing an additional 295,935 shares during the period. Fiera Capital Corp raised its stake in shares of Restaurant Brands International by 38.2% in the fourth quarter. Fiera Capital Corp now owns 6,835,522 shares of the restaurant operator's stock worth $466,595,000 after buying an additional 1,889,359 shares during the period. UBS Group AG lifted its position in shares of Restaurant Brands International by 37.0% during the 4th quarter. UBS Group AG now owns 1,408,839 shares of the restaurant operator's stock valued at $96,125,000 after buying an additional 380,635 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Restaurant Brands International by 851.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 376,147 shares of the restaurant operator's stock valued at $25,713,000 after buying an additional 336,615 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Restaurant Brands International during the 4th quarter valued at approximately $260,709,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on QSR shares. Scotiabank lifted their price target on shares of Restaurant Brands International from $81.00 to $83.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. CL King set a $81.00 price target on Restaurant Brands International in a report on Thursday, May 7th. Barclays upped their price objective on Restaurant Brands International from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Restaurant Brands International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 8th. Finally, Robert W. Baird lifted their target price on Restaurant Brands International from $72.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.86.

Restaurant Brands International Trading Up 0.2%

NYSE QSR opened at $72.52 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55. The firm has a market cap of $25.32 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The company has a 50 day moving average price of $74.00 and a 200 day moving average price of $73.24. Restaurant Brands International Inc. has a 52 week low of $61.33 and a 52 week high of $81.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. Restaurant Brands International had a net margin of 9.96% and a return on equity of 32.80%. The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Restaurant Brands International Inc. will post 4.04 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 23rd. Restaurant Brands International's dividend payout ratio (DPR) is presently 91.55%.

About Restaurant Brands International

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.

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