Raymond James Financial Inc. Grows Holdings in Restaurant Brands International Inc. $QSR

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. increased its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 90.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 563,747 shares of the restaurant operator's stock after purchasing an additional 268,511 shares during the quarter. Raymond James Financial Inc. owned approximately 0.17% of Restaurant Brands International worth $37,568,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Restaurant Brands International by 7.6% during the first quarter. Vanguard Group Inc. now owns 14,169,061 shares of the restaurant operator's stock valued at $944,538,000 after buying an additional 1,003,563 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Restaurant Brands International by 26.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator's stock worth $834,478,000 after acquiring an additional 2,695,071 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Restaurant Brands International by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,108,527 shares of the restaurant operator's stock valued at $540,352,000 after acquiring an additional 47,192 shares during the last quarter. Mackenzie Financial Corp lifted its position in Restaurant Brands International by 17.1% during the first quarter. Mackenzie Financial Corp now owns 4,912,807 shares of the restaurant operator's stock valued at $327,486,000 after acquiring an additional 717,867 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Restaurant Brands International by 29.4% in the first quarter. TD Asset Management Inc now owns 4,631,461 shares of the restaurant operator's stock valued at $308,698,000 after acquiring an additional 1,053,640 shares in the last quarter. Institutional investors own 82.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on QSR. Scotiabank lowered their price target on Restaurant Brands International from $75.00 to $71.00 and set a "sector perform" rating for the company in a report on Friday, August 8th. Barclays lowered their target price on shares of Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Argus lowered shares of Restaurant Brands International from a "buy" rating to a "hold" rating in a research note on Friday, August 15th. Truist Financial lifted 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. Finally, Oppenheimer boosted their price objective on shares of Restaurant Brands International from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, May 27th. Eleven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $75.04.

Restaurant Brands International Stock Performance

Shares of QSR traded down $0.15 during trading hours on Thursday, hitting $62.49. The stock had a trading volume of 256,480 shares, compared to its average volume of 2,471,659. The firm has a 50-day moving average price of $66.90 and a 200 day moving average price of $66.63. Restaurant Brands International Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $74.09. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 2.70 and a beta of 0.58. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $0.94 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.03). The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.33 billion. Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, research analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 23rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio (DPR) is currently 93.94%.

Restaurant Brands International Company 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.