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

Key Points

• Cidel Asset Management cut its Restaurant Brands International stake by 24.1% in the second quarter, selling 167,012 shares and retaining 526,104 shares worth approximately $38.1 million. Institutional investors and hedge funds collectively own 82.29% of QSR.
• Restaurant Brands International exceeded quarterly earnings expectations, reporting $1.07 EPS versus the $1.04 consensus, while revenue rose 4.6% year over year to $2.52 billion.
• The company declared a quarterly dividend of $0.65 per share, equivalent to $2.60 annually and a 3.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $84.00.

Cidel Asset Management Inc. reduced its holdings in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 24.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 526,104 shares of the restaurant operator's stock after selling 167,012 shares during the period. Restaurant Brands International makes up 1.8% of Cidel Asset Management Inc.'s holdings, making the stock its 14th biggest position. Cidel Asset Management Inc. owned 0.15% of Restaurant Brands International worth $38,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new position in Restaurant Brands International in the 4th quarter worth approximately $25,000. Larson Financial Group LLC increased its holdings in shares of Restaurant Brands International by 1,922.2% in the fourth quarter. Larson Financial Group LLC now owns 364 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 346 shares during the last quarter. Groupe la Francaise purchased a new position in Restaurant Brands International during the second quarter worth approximately $27,000. Western Wealth Management LLC purchased a new position in Restaurant Brands International during the first quarter worth approximately $28,000. Finally, CoreCap Advisors LLC boosted its stake in Restaurant Brands International by 304.3% during the second quarter. CoreCap Advisors LLC now owns 465 shares of the restaurant operator's stock worth $34,000 after buying an additional 350 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Stock Performance

Shares of Restaurant Brands International stock opened at $78.36 on Wednesday. The firm has a market cap of $27.33 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 2.49. Restaurant Brands International Inc. has a 52 week low of $61.44 and a 52 week high of $81.96. The business's fifty day simple moving average is $75.92 and its 200-day simple moving average is $75.19.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. Restaurant Brands International had a return on equity of 33.43% and a net margin of 13.12%.The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $0.94 EPS. The company's quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts forecast that Restaurant Brands International Inc. will post 4.03 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, September 18th. Restaurant Brands International's payout ratio is 69.89%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler dropped their target price on Restaurant Brands International from $85.00 to $81.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Weiss Ratings upgraded Restaurant Brands International from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. CL King set a $80.00 price target on shares of Restaurant Brands International in a research report on Monday, August 10th. Citigroup upped their price objective on shares of Restaurant Brands International from $78.00 to $80.00 and gave the company a "neutral" rating in a report on Tuesday, September 1st. Finally, Evercore restated an "outperform" rating and set a $88.00 price objective on shares of Restaurant Brands International in a research report on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.00.

Restaurant Brands International Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.