Restaurant Brands International Inc. $QSR Shares Purchased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its stake in Restaurant Brands International by 32.8% in the first quarter, buying an additional 270,816 shares and bringing its total holding to 1,095,285 shares valued at about $81.0 million.
• Restaurant Brands International’s latest earnings beat expectations, with quarterly EPS of $0.86 versus the $0.83 consensus and revenue of $2.26 billion, up 7.3% year over year.
• Wall Street remains cautiously positive on QSR, with analysts holding a Moderate Buy consensus and an average price target of $84.14, while the stock recently traded at $72.41 and yielded 3.6% after its quarterly dividend.

Bank of Nova Scotia grew its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 32.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,095,285 shares of the restaurant operator's stock after buying an additional 270,816 shares during the period. Bank of Nova Scotia owned 0.32% of Restaurant Brands International worth $81,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its position in Restaurant Brands International by 107.1% during the 1st quarter. Sei Investments Co. now owns 108,857 shares of the restaurant operator's stock worth $8,045,000 after purchasing an additional 56,293 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of Restaurant Brands International during the 1st quarter worth about $221,000. Cetera Investment Advisers boosted its stake in shares of Restaurant Brands International by 25.8% during the 1st quarter. Cetera Investment Advisers now owns 67,508 shares of the restaurant operator's stock worth $4,989,000 after purchasing an additional 13,836 shares during the last quarter. NewEdge Wealth LLC purchased a new stake in shares of Restaurant Brands International during the first quarter worth about $2,214,000. Finally, First Trust Advisors LP lifted its stake in shares of Restaurant Brands International by 144.1% during the first quarter. First Trust Advisors LP now owns 43,870 shares of the restaurant operator's stock valued at $3,242,000 after buying an additional 25,896 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QSR. CL King set a $81.00 target price on shares of Restaurant Brands International in a research report on Thursday, May 7th. Scotia raised their price objective on Restaurant Brands International from $81.00 to $83.00 and gave the stock a "sector perform" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on Restaurant Brands International from $77.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Weiss Ratings upgraded Restaurant Brands International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 8th. Finally, Citigroup decreased their price target on Restaurant Brands International from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.14.

Restaurant Brands International Stock Down 1.1%

Shares of QSR opened at $72.41 on Friday. The firm has a market cap of $25.28 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 2.14 and a beta of 0.50. The company's fifty day moving average is $74.07 and its two-hundred day moving average is $73.24. Restaurant Brands International Inc. has a fifty-two week low of $61.33 and a fifty-two week high of $81.96. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. Analysts forecast that Restaurant Brands International Inc. will post 4.04 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.65 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.60 annualized dividend and a yield of 3.6%. Restaurant Brands International's dividend payout ratio is currently 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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