Restaurant Brands International Inc. $QSR is EdgePoint Investment Group Inc.'s 4th Largest Position

Key Points

• EdgePoint Investment Group boosted its stake in Restaurant Brands International by 15.4% in Q3 to 14,903,208 shares, making QSR its 4th-largest holding and representing about $955.9M (roughly 4.55% of the company and ~7.1% of EdgePoint's portfolio).
• Company insiders sold a total of 186,401 shares valued at about $12.86M in the last quarter (including notable sales by Jacqueline Friesner and Duncan Fulton); insiders now own roughly 1.25% of the stock.
• RBI raised its quarterly dividend to $0.65 (annualized $2.60) for a yield of ~3.6%, payable April 2 with an ex-dividend date of March 19, while the dividend payout ratio stands at about 105%.

EdgePoint Investment Group Inc. grew its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 15.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,903,208 shares of the restaurant operator's stock after acquiring an additional 1,983,354 shares during the quarter. Restaurant Brands International comprises approximately 7.1% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 4th biggest position. EdgePoint Investment Group Inc. owned approximately 4.55% of Restaurant Brands International worth $955,855,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new stake in Restaurant Brands International in the 3rd quarter valued at $29,000. Cary Street Partners Investment Advisory LLC purchased a new position in Restaurant Brands International during the 2nd quarter worth $35,000. Elevation Point Wealth Partners LLC acquired a new position in Restaurant Brands International in the second quarter valued at $36,000. Exchange Traded Concepts LLC acquired a new position in Restaurant Brands International in the third quarter valued at $48,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Restaurant Brands International by 41.0% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,032 shares of the restaurant operator's stock valued at $66,000 after buying an additional 300 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Restaurant Brands International news, insider Jacqueline Friesner sold 4,617 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $67.51, for a total value of $311,693.67. Following the completion of the transaction, the insider directly owned 194,201 shares of the company's stock, valued at approximately $13,110,509.51. This trade represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Duncan Fulton sold 10,308 shares of Restaurant Brands International stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $695,893.08. Following the sale, the insider owned 49,677 shares of the company's stock, valued at approximately $3,353,694.27. The trade was a 17.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 186,401 shares of company stock valued at $12,857,069 in the last quarter. Insiders own 1.25% of the company's stock.

Analysts Set New Price Targets

QSR has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of Restaurant Brands International from $77.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, February 24th. TD Cowen reduced their price objective on Restaurant Brands International from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, February 12th. BMO Capital Markets decreased their price objective on Restaurant Brands International from $83.00 to $81.00 and set an "outperform" rating for the company in a research report on Friday, February 13th. Morgan Stanley lifted their target price on 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, Barclays dropped their target price on Restaurant Brands International from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Restaurant Brands International presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.95.

Restaurant Brands International Trading Up 0.8%

NYSE QSR opened at $72.65 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The stock has a market capitalization of $25.17 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.06 and a beta of 0.56. Restaurant Brands International Inc. has a 52-week low of $58.71 and a 52-week high of $74.42. The firm has a 50-day moving average price of $69.29 and a 200 day moving average price of $68.10.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings data on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.41 billion. Restaurant Brands International had a return on equity of 32.51% and a net margin of 8.23%.The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Equities research analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, March 19th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. This is a positive change from Restaurant Brands International's previous quarterly dividend of $0.62. The ex-dividend date is Thursday, March 19th. Restaurant Brands International's dividend payout ratio (DPR) is 105.08%.

Restaurant Brands International 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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