Restaurant Brands International Inc. (NYSE:QSR) Shares Purchased by Bank of Nova Scotia Trust Co.

Key Points

• Bank of Nova Scotia Trust Co. increased its stake in Restaurant Brands International (NYSE:QSR) by 4.7%, owning 290,271 shares, which is approximately 2.1% of its portfolio.
• Institutional investors control 82.29% of Restaurant Brands International's stock, indicating significant institutional interest.
• The company's recent earnings report showed a missed consensus estimate with earnings of $0.75 per share compared to the expected $0.78, despite a 21.3% year-over-year revenue increase.

Bank of Nova Scotia Trust Co. raised its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 290,271 shares of the restaurant operator's stock after purchasing an additional 13,138 shares during the period. Restaurant Brands International accounts for 2.1% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 16th largest position. Bank of Nova Scotia Trust Co. owned about 0.09% of Restaurant Brands International worth $19,344,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of QSR. GeoWealth Management LLC increased its position in shares of Restaurant Brands International by 7.0% in the fourth quarter. GeoWealth Management LLC now owns 2,487 shares of the restaurant operator's stock worth $162,000 after acquiring an additional 163 shares in the last quarter. Capital Analysts LLC increased its position in shares of Restaurant Brands International by 24.3% in the fourth quarter. Capital Analysts LLC now owns 952 shares of the restaurant operator's stock worth $62,000 after acquiring an additional 186 shares in the last quarter. Dunhill Financial LLC increased its position in shares of Restaurant Brands International by 100.0% in the fourth quarter. Dunhill Financial LLC now owns 400 shares of the restaurant operator's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Restaurant Brands International by 7.0% in the fourth quarter. Guggenheim Capital LLC now owns 3,438 shares of the restaurant operator's stock worth $224,000 after acquiring an additional 226 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Restaurant Brands International by 96.6% in the first quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock worth $35,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Scotiabank upgraded shares of Restaurant Brands International to a "hold" rating and set a $75.00 target price for the company in a research note on Wednesday, June 18th. Melius assumed coverage on shares of Restaurant Brands International in a research note on Monday, July 14th. They issued a "buy" rating and a $90.00 target price for the company. Truist Financial upped their target price on shares of 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, CIBC decreased their target price on shares of Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $76.09.

Restaurant Brands International Stock Up 0.3%

Shares of NYSE:QSR opened at $68.09 on Friday. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. Restaurant Brands International Inc. has a 1-year low of $58.71 and a 1-year high of $74.09. The company's fifty day moving average is $68.55 and its two-hundred day moving average is $66.21. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.90 and a current ratio of 0.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. Equities analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th were given a $0.62 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $2.48 annualized dividend and a yield of 3.6%. Restaurant Brands International's dividend payout ratio (DPR) is currently 84.07%.

Insiders Place Their Bets

In related news, insider Jacqueline Friesner sold 70,000 shares of Restaurant Brands International stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $70.08, for a total value of $4,905,600.00. Following the sale, the insider directly owned 182,897 shares in the company, valued at $12,817,421.76. This trade represents a 27.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by corporate insiders.

Restaurant Brands International 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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