Restaurant Brands International Inc. $QSR Shares Acquired by Canoe Financial LP

Key Points

• Canoe Financial LP boosted its stake in Restaurant Brands International by 34.5% in the first quarter, buying 858,490 additional shares and bringing its total to 3,348,043 shares valued at about $247.7 million.
• Several analysts turned more positive on QSR, with price targets recently raised by firms including RBC, Scotiabank, TD Cowen, Stifel, and Oppenheimer. The stock now has a consensus rating of Moderate Buy with a target price of $83.54.
• Restaurant Brands International reported stronger-than-expected quarterly results, posting $0.86 EPS on revenue of $2.26 billion, and it also announced a quarterly dividend of $0.65 per share payable July 7.

Canoe Financial LP increased its position in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,348,043 shares of the restaurant operator's stock after buying an additional 858,490 shares during the quarter. Restaurant Brands International comprises about 3.4% of Canoe Financial LP's investment portfolio, making the stock its 3rd biggest position. Canoe Financial LP owned 0.96% of Restaurant Brands International worth $247,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its stake in Restaurant Brands International by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 8,451 shares of the restaurant operator's stock worth $577,000 after acquiring an additional 154 shares during the last quarter. Capital Analysts LLC lifted its stake in shares of Restaurant Brands International by 20.6% in the 4th quarter. Capital Analysts LLC now owns 924 shares of the restaurant operator's stock valued at $63,000 after purchasing an additional 158 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Restaurant Brands International by 2.0% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 8,029 shares of the restaurant operator's stock worth $548,000 after purchasing an additional 161 shares during the period. Applied Finance Capital Management LLC grew its holdings in shares of Restaurant Brands International by 1.9% during the 4th quarter. Applied Finance Capital Management LLC now owns 9,440 shares of the restaurant operator's stock worth $644,000 after purchasing an additional 179 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Restaurant Brands International by 0.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 57,512 shares of the restaurant operator's stock worth $3,967,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on QSR shares. Scotiabank raised their price target on shares of Restaurant Brands International from $81.00 to $83.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Royal Bank Of Canada boosted their price objective on shares of Restaurant Brands International from $83.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. TD Cowen increased their price objective on shares of Restaurant Brands International from $76.00 to $79.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. Stifel Nicolaus raised shares of Restaurant Brands International from a "hold" rating to a "buy" rating and raised their target price for the company from $68.00 to $90.00 in a research note on Monday, March 2nd. Finally, Oppenheimer lifted their target price on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.54.

Restaurant Brands International Stock Performance

Shares of NYSE:QSR opened at $74.36 on Monday. The business's 50-day simple moving average is $75.86 and its 200 day simple moving average is $72.65. The company has a market cap of $25.83 billion, a P/E ratio of 26.18, a PEG ratio of 1.93 and a beta of 0.49. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99. Restaurant Brands International Inc. has a one year low of $61.33 and a one year high of $81.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the prior year, the business earned $0.75 EPS. Restaurant Brands International's quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Restaurant Brands International Inc. will post 4.07 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Restaurant Brands International's payout ratio is presently 91.55%.

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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