Restaurant Brands International Inc. $QSR Shares Sold by CIBC Asset Management Inc

Key Points

• CIBC Asset Management cut its Restaurant Brands International stake by 38.9% in the fourth quarter, though it still held about 1.32 million shares valued at roughly $90.4 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding about 82.29% of the company, while several firms recently increased or initiated positions in QSR.
• Restaurant Brands International reported better-than-expected quarterly results with EPS of $0.86 and revenue of $2.26 billion, and it also announced a quarterly dividend of $0.65 per share.

CIBC Asset Management Inc reduced its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 38.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,317,198 shares of the restaurant operator's stock after selling 839,140 shares during the quarter. CIBC Asset Management Inc owned about 0.38% of Restaurant Brands International worth $90,369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QSR. AQR Capital Management LLC acquired a new position in shares of Restaurant Brands International in the first quarter valued at approximately $237,000. WINTON GROUP Ltd acquired a new stake in Restaurant Brands International during the second quarter worth about $265,000. State Street Corp increased its position in shares of Restaurant Brands International by 9,477.4% in the second quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock worth $198,711,000 after acquiring an additional 2,966,048 shares in the last quarter. Sei Investments Co. increased its position in shares of Restaurant Brands International by 188.7% in the second quarter. Sei Investments Co. now owns 52,335 shares of the restaurant operator's stock worth $3,469,000 after acquiring an additional 34,210 shares in the last quarter. Finally, Treasurer of the State of North Carolina acquired a new stake in shares of Restaurant Brands International in the second quarter valued at about $10,019,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on QSR. Citigroup lowered their price target on shares of Restaurant Brands International from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. CL King set a $81.00 price target on shares of Restaurant Brands International in a research note on Thursday, May 7th. UBS Group increased their target price on shares of Restaurant Brands International from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Scotia increased their target price on shares of Restaurant Brands International from $81.00 to $83.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $86.00 price objective on shares of Restaurant Brands International in a research note on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Restaurant Brands International has an average rating of "Moderate Buy" and an average price target of $83.54.

Insiders Place Their Bets

In related news, insider Jacqueline Friesner sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $74.61, for a total value of $2,238,300.00. Following the completion of the sale, the insider owned 165,727 shares of the company's stock, valued at $12,364,891.47. This trade represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill Granat sold 25,000 shares of Restaurant Brands International stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $75.09, for a total value of $1,877,250.00. Following the completion of the sale, the insider owned 478,845 shares of the company's stock, valued at approximately $35,956,471.05. The trade was a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 350,000 shares of company stock valued at $26,198,650 over the last quarter. Company insiders own 1.22% of the company's stock.

Restaurant Brands International Stock Performance

Shares of NYSE:QSR opened at $71.61 on Wednesday. Restaurant Brands International Inc. has a twelve month low of $61.33 and a twelve month high of $81.96. The firm has a market cap of $24.87 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.89 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. The business has a fifty day moving average of $76.74 and a 200-day moving average of $72.29.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share for the quarter, beating 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 company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Restaurant Brands International Inc. will post 4.07 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Restaurant Brands International's dividend payout ratio (DPR) 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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