Restaurant Brands International Inc. $QSR is Cidel Asset Management Inc.'s 7th Largest Position

Key Points

• Cidel Asset Management Inc. increased its stake in Restaurant Brands International Inc. by 2.2%, making it the firm's 7th largest holding, with 669,683 shares valued at approximately $44.3 million.
• Several hedge funds have recently adjusted their positions in Restaurant Brands International, with notable increases from CX Institutional and Private Trust Co. NA.
• The company reported a EPS of $0.94 for its last quarter, missing the consensus estimate of $0.97, while revenue rose 15.9% year-over-year to $2.41 billion.

Cidel Asset Management Inc. raised its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 669,683 shares of the restaurant operator's stock after buying an additional 14,726 shares during the period. Restaurant Brands International makes up approximately 2.7% of Cidel Asset Management Inc.'s holdings, making the stock its 7th largest holding. Cidel Asset Management Inc. owned about 0.20% of Restaurant Brands International worth $44,333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in QSR. HM Payson & Co. purchased a new position in Restaurant Brands International in the first quarter valued at about $26,000. Legend Financial Advisors Inc. purchased a new position in Restaurant Brands International in the second quarter valued at about $33,000. CX Institutional increased its holdings in Restaurant Brands International by 928.0% in the second quarter. CX Institutional now owns 514 shares of the restaurant operator's stock valued at $34,000 after buying an additional 464 shares in the last quarter. Private Trust Co. NA increased its holdings in Restaurant Brands International by 96.6% in the first quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock valued at $35,000 after buying an additional 255 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Restaurant Brands International by 91.2% in the first quarter. Smartleaf Asset Management LLC now owns 545 shares of the restaurant operator's stock valued at $35,000 after buying an additional 260 shares in the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on QSR shares. Truist Financial raised their price objective on shares of Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Argus cut shares of Restaurant Brands International from a "buy" rating to a "hold" rating in a research note on Friday, August 15th. Piper Sandler dropped their price objective on shares of Restaurant Brands International from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Restaurant Brands International in a research note on Wednesday, October 8th. Finally, Citigroup raised their price objective on shares of Restaurant Brands International from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Thursday. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Restaurant Brands International currently has a consensus rating of "Hold" and a consensus target price of $75.21.

Restaurant Brands International Stock Down 0.1%

QSR stock opened at $67.38 on Friday. The stock has a market capitalization of $22.09 billion, a P/E ratio of 25.52, a PEG ratio of 2.93 and a beta of 0.65. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $74.09. The company has a 50 day moving average price of $64.77 and a two-hundred day moving average price of $66.31.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its 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 firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.33 billion. Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The firm'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. As a group, sell-side analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 23rd. Restaurant Brands International's payout ratio is presently 93.94%.

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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