EdgePoint Investment Group Inc. Has $914.46 Million Stock Holdings in Restaurant Brands International Inc. $QSR

Key Points

• EdgePoint Investment Group Inc. increased its stake in Restaurant Brands International Inc. by 7.0%, making it one of the firm's largest positions with 13.7 million shares valued at approximately $914 million.
• Restaurant Brands reported quarterly earnings of $0.94 per share, missing estimates by $0.03, with revenue increasing by 15.9% year-over-year to $2.41 billion.
• The company announced a quarterly dividend of $0.62 per share with a yield of 4.0%, reflecting a payout ratio of 93.94%.

EdgePoint Investment Group Inc. lifted its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,715,604 shares of the restaurant operator's stock after buying an additional 896,034 shares during the period. Restaurant Brands International comprises about 7.4% of EdgePoint Investment Group Inc.'s holdings, making the stock its 2nd largest position. EdgePoint Investment Group Inc. owned approximately 4.19% of Restaurant Brands International worth $914,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in Restaurant Brands International during the 1st quarter worth $237,000. Amundi boosted its holdings in Restaurant Brands International by 9.7% during the 1st quarter. Amundi now owns 229,846 shares of the restaurant operator's stock worth $15,588,000 after acquiring an additional 20,328 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in Restaurant Brands International by 11.9% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 1,394,711 shares of the restaurant operator's stock worth $91,593,000 after acquiring an additional 147,934 shares during the last quarter. First Manhattan CO. LLC. boosted its holdings in Restaurant Brands International by 2.2% during the 1st quarter. First Manhattan CO. LLC. now owns 18,919 shares of the restaurant operator's stock worth $1,272,000 after acquiring an additional 403 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Restaurant Brands International by 16.7% during the 1st quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator's stock worth $1,507,839,000 after acquiring an additional 3,230,735 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Bank of America dropped their price target on Restaurant Brands International from $62.00 to $60.00 and set an "underperform" rating on the stock in a report on Friday, July 18th. Morgan Stanley dropped their price target on Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Citigroup dropped their price target on Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Finally, Truist Financial lifted their price target on Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Eleven equities 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 company. According to MarketBeat, Restaurant Brands International presently has an average rating of "Hold" and an average price target of $75.04.

Restaurant Brands International Stock Performance

NYSE:QSR traded up $0.95 during trading hours on Friday, reaching $63.05. The stock had a trading volume of 2,681,483 shares, compared to its average volume of 2,244,757. 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 50 day simple moving average of $66.51 and a 200 day simple moving average of $66.52. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $74.09. The stock has a market cap of $20.67 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.03). Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business's quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $2.48 annualized dividend and a yield of 3.9%. Restaurant Brands International's dividend payout ratio is 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.