Public Employees Retirement System of Ohio Boosts Stake in Restaurant Brands International Inc. $QSR

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Restaurant Brands International Inc. by 123.8%, owning a total of 120,184 shares valued at approximately $7.97 million.
• A significant portion of Restaurant Brands International's stock, approximately 82.29%, is owned by institutional investors, with many firms recently adjusting their holdings.
• Analysts have mixed views on the stock, with eleven rating it as a Buy, twelve as Hold, and one as Sell, resulting in a consensus target price of $75.04.

Public Employees Retirement System of Ohio lifted its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 123.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,184 shares of the restaurant operator's stock after buying an additional 66,473 shares during the period. Public Employees Retirement System of Ohio's holdings in Restaurant Brands International were worth $7,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in Restaurant Brands International by 30.8% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295 shares of the restaurant operator's stock worth $150,000 after acquiring an additional 541 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Restaurant Brands International by 473.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,645 shares of the restaurant operator's stock worth $1,606,000 after purchasing an additional 20,348 shares during the period. Versant Capital Management Inc purchased a new position in shares of Restaurant Brands International in the 1st quarter worth about $160,000. GAMMA Investing LLC grew its position in Restaurant Brands International by 5,469.6% during the first quarter. GAMMA Investing LLC now owns 91,230 shares of the restaurant operator's stock valued at $6,080,000 after buying an additional 89,592 shares during the period. Finally, Parallel Advisors LLC grew its position in Restaurant Brands International by 20.8% during the first quarter. Parallel Advisors LLC now owns 2,374 shares of the restaurant operator's stock valued at $158,000 after buying an additional 409 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on QSR. Northcoast Research cut shares of Restaurant Brands International from a "buy" rating to a "neutral" rating in a research note on Friday, September 12th. Bank of America dropped their price objective on Restaurant Brands International from $62.00 to $60.00 and set an "underperform" rating on the stock in a research note on Friday, July 18th. Scotiabank decreased their target price on Restaurant Brands International from $75.00 to $71.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Truist Financial boosted their target price on Restaurant Brands International from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Barclays decreased their price objective on Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $75.04.

Restaurant Brands International Stock Performance

Shares of QSR opened at $64.92 on Friday. Restaurant Brands International Inc. has a 52-week low of $58.71 and a 52-week high of $74.09. The stock's 50-day simple moving average is $65.19 and its 200 day simple moving average is $66.29. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 2.80 and a beta of 0.61.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.03). Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. The company's quarterly revenue was up 15.9% on a year-over-year basis. Research analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be paid a $0.62 dividend. The ex-dividend date is Tuesday, September 23rd. This represents a $2.48 annualized dividend and a yield of 3.8%. Restaurant Brands International's dividend payout ratio is currently 93.94%.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.