Redwood Investment Management LLC Sells 20,702 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Redwood Investment Management LLC significantly reduced its holdings in Restaurant Brands International Inc. by 56.7%, selling 20,702 shares and now owning 15,794 shares valued at approximately $1.05 million.
• Despite Redwood's selling, several other institutional investors, including Allspring Global Investments and Canoe Financial LP, significantly increased their stakes in the company during the same period.
• The company's stock has been rated with a consensus of 11 buy ratings, 11 hold ratings, and 1 sell rating, with a current average target price of $75.04.

Redwood Investment Management LLC trimmed its position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 56.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,794 shares of the restaurant operator's stock after selling 20,702 shares during the period. Redwood Investment Management LLC's holdings in Restaurant Brands International were worth $1,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted 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 worth $4,759,000 after purchasing an additional 25,292 shares during the last quarter. Aviso Financial Inc. raised its holdings in shares of Restaurant Brands International by 1.2% in the first quarter. Aviso Financial Inc. now owns 953,186 shares of the restaurant operator's stock worth $63,566,000 after buying an additional 11,164 shares during the period. Private Trust Co. NA lifted 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 worth $35,000 after acquiring an additional 255 shares during the last quarter. Canoe Financial LP lifted its stake in shares of Restaurant Brands International by 14.4% during the 1st quarter. Canoe Financial LP now owns 2,307,351 shares of the restaurant operator's stock worth $153,834,000 after acquiring an additional 291,269 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Restaurant Brands International by 8.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,889 shares of the restaurant operator's stock valued at $392,000 after acquiring an additional 470 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Argus lowered Restaurant Brands International from a "buy" rating to a "hold" rating in a research note on Friday, August 15th. Guggenheim upped their price target on shares of Restaurant Brands International from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Loop Capital reaffirmed a "buy" rating on shares of Restaurant Brands International in a research note on Thursday, June 26th. Sanford C. Bernstein set a $78.00 price objective on shares of Restaurant Brands International in a report on Friday, August 8th. Finally, Scotiabank lowered their price objective on shares of 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. Eleven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Restaurant Brands International currently has an average rating of "Hold" and a consensus price target of $75.04.

Restaurant Brands International Stock Down 0.2%

Restaurant Brands International stock opened at $62.65 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 2.69. The firm has a market cap of $20.54 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.70 and a beta of 0.58. The business has a fifty day moving average of $66.90 and a two-hundred day moving average of $66.63. Restaurant Brands International Inc. has a twelve month low of $58.71 and a twelve month high of $74.09.

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

Restaurant Brands International Announces Dividend

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 issued a $0.62 dividend. The ex-dividend date is Tuesday, September 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.0%. Restaurant Brands International's payout ratio is currently 93.94%.

Restaurant Brands International Company Profile

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.

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