Norges Bank Makes New Investment in Restaurant Brands International Inc. $QSR

Key Points

• Norges Bank disclosed a new fourth-quarter position in Restaurant Brands International, buying 3.82 million shares valued at about $260.7 million, or roughly 1.1% of the company.
• Restaurant Brands International beat earnings expectations in its latest quarterly report, posting $0.86 EPS on $2.26 billion in revenue, both slightly above estimates and higher than a year earlier.
• The company also announced a quarterly dividend of $0.65 per share, equal to a 3.6% annualized yield, while analysts currently rate the stock a Moderate Buy with an average price target of $83.54.

Norges Bank acquired a new position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,820,684 shares of the restaurant operator's stock, valued at approximately $260,709,000. Norges Bank owned approximately 1.10% of Restaurant Brands International as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of QSR. Lloyd Advisory Services LLC. acquired a new stake in Restaurant Brands International during the fourth quarter worth about $25,000. Larson Financial Group LLC grew its stake 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 buying an additional 346 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Restaurant Brands International during the fourth quarter worth about $29,000. Global Retirement Partners LLC grew its stake in Restaurant Brands International by 231.1% during the fourth quarter. Global Retirement Partners LLC now owns 970 shares of the restaurant operator's stock worth $66,000 after buying an additional 677 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Restaurant Brands International by 195.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,067 shares of the restaurant operator's stock worth $73,000 after buying an additional 706 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Stock Down 1.7%

NYSE:QSR opened at $71.61 on Wednesday. The firm's 50 day simple moving average is $76.74 and its 200 day simple moving average is $72.29. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.99 and a quick ratio of 0.90. Restaurant Brands International Inc. has a one year low of $61.33 and a one year high of $81.96. The company has a market cap of $24.87 billion, a PE ratio of 25.21, a P/E/G ratio of 1.89 and a beta of 0.49.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 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 business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company earned $0.75 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Restaurant Brands International Inc. will post 4.07 earnings per share for the current year.

Restaurant Brands International Announces Dividend

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

Insider Buying and Selling at Restaurant Brands International

In related news, insider Jill Granat sold 25,000 shares of Restaurant Brands International stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $75.09, for a total transaction of $1,877,250.00. Following the sale, the insider directly owned 478,845 shares in the company, valued at $35,956,471.05. This trade represents a 4.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joshua Kobza sold 200,000 shares of Restaurant Brands International stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $75.05, for a total transaction of $15,010,000.00. Following the sale, the chief executive officer owned 960,769 shares in the company, valued at approximately $72,105,713.45. This represents a 17.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 350,000 shares of company stock worth $26,198,650 over the last quarter. Insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

QSR has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of Restaurant Brands International from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Piper Sandler upgraded shares of Restaurant Brands International from a "neutral" rating to an "overweight" rating and raised their price target for the company from $71.00 to $84.00 in a research note on Monday, March 2nd. Scotia raised 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 research note on Thursday, May 7th. Morgan Stanley raised their price target on shares of Restaurant Brands International from $77.00 to $78.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 3rd. Finally, Oppenheimer raised their price target on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Wednesday, March 18th. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.54.

Restaurant Brands International Company 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.

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