Restaurant Brands International Inc. $QSR Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Restaurant Brands International Inc. by 90.9%, acquiring an additional 268,511 shares in the first quarter, bringing their total holdings to approximately $37.57 million.
• Restaurant Brands International's recent earnings report showed a quarterly EPS of $0.94, which missed analysts' estimates by $0.03, despite a year-over-year revenue increase of 15.9% to $2.41 billion.
• The company declared a quarterly dividend of $0.62, with an annualized yield of 3.9%, reflecting a payout ratio of 93.94%.

Raymond James Financial Inc. raised its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 90.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 563,747 shares of the restaurant operator's stock after buying an additional 268,511 shares during the quarter. Raymond James Financial Inc. owned approximately 0.17% of Restaurant Brands International worth $37,568,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Restaurant Brands International by 55.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,857 shares of the restaurant operator's stock valued at $4,759,000 after purchasing an additional 25,292 shares during the last quarter. Private Trust Co. NA grew its stake in Restaurant Brands International by 96.6% during the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 255 shares in the last quarter. Canoe Financial LP grew its position in shares of Restaurant Brands International by 14.4% during the first quarter. Canoe Financial LP now owns 2,307,351 shares of the restaurant operator's stock worth $153,834,000 after buying an additional 291,269 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Restaurant Brands International by 8.7% during the first quarter. Janney Montgomery Scott LLC now owns 5,889 shares of the restaurant operator's stock worth $392,000 after buying an additional 470 shares in the last quarter. Finally, Advisor Resource Council acquired a new position in shares of Restaurant Brands International during the 1st quarter worth about $333,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Restaurant Brands International Trading Down 0.8%

NYSE QSR opened at $63.3070 on Friday. The company's fifty day simple moving average is $67.14 and its 200-day simple moving average is $66.65. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $74.09. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 2.69. The stock has a market cap of $20.75 billion, a P/E ratio of 23.98, a PEG ratio of 2.75 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 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 for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts predict that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 23rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 23rd. Restaurant Brands International's payout ratio is 93.94%.

Analysts Set New Price Targets

Several research firms have recently weighed in on QSR. Piper Sandler reduced their target price on Restaurant Brands International from $72.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada lowered their price objective on Restaurant Brands International from $80.00 to $77.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. CIBC reduced their price target on shares of Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. Sanford C. Bernstein set a $78.00 price objective on shares of Restaurant Brands International in a research note on Friday, August 8th. Finally, 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. Eleven 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $75.04.

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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