Restaurant Brands International Inc. $QSR Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp trimmed its stake in Restaurant Brands International by 1.8%, selling 34,307 shares and now holds 1,892,120 shares (about 0.58% of the company) valued at roughly $121.36 million.
• RBI beat expectations for the quarter with $0.96 EPS versus $0.93 expected and $2.47 billion in revenue (vs. $2.41B), with revenue up 7.4% year-over-year and a 32.5% return on equity.
• The company raised its quarterly dividend to $0.65 (annualized $2.60, yield 3.6%), but the payout ratio is 105.08%, and insiders sold a total of 186,401 shares (~$12.86 million) over the last quarter.

Mackenzie Financial Corp lowered its position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 1.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,892,120 shares of the restaurant operator's stock after selling 34,307 shares during the period. Mackenzie Financial Corp owned approximately 0.58% of Restaurant Brands International worth $121,357,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QSR. Capital International Sarl boosted its stake in shares of Restaurant Brands International by 7.3% in the third quarter. Capital International Sarl now owns 354,905 shares of the restaurant operator's stock valued at $22,764,000 after purchasing an additional 24,262 shares during the period. Capital International Inc. CA grew its holdings in Restaurant Brands International by 15.9% during the 3rd quarter. Capital International Inc. CA now owns 220,696 shares of the restaurant operator's stock valued at $14,155,000 after purchasing an additional 30,277 shares in the last quarter. Capital Group Investment Management PTE. LTD. increased its stake in Restaurant Brands International by 5.9% during the 3rd quarter. Capital Group Investment Management PTE. LTD. now owns 46,927 shares of the restaurant operator's stock worth $3,010,000 after buying an additional 2,613 shares during the period. Legal & General Group Plc lifted its holdings in Restaurant Brands International by 6.8% in the 3rd quarter. Legal & General Group Plc now owns 1,611,978 shares of the restaurant operator's stock worth $103,434,000 after buying an additional 102,377 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Restaurant Brands International by 72.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 97,492 shares of the restaurant operator's stock worth $6,282,000 after buying an additional 40,858 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Restaurant Brands International Price Performance

QSR opened at $72.04 on Thursday. The company has a market capitalization of $24.96 billion, a P/E ratio of 30.53, a PEG ratio of 2.05 and a beta of 0.56. The company has a 50-day moving average of $69.11 and a 200-day moving average of $67.96. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.91 and a current ratio of 0.98. Restaurant Brands International Inc. has a 1-year low of $58.71 and a 1-year high of $74.42.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings results on Thursday, February 12th. The restaurant operator reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.41 billion. Restaurant Brands International had a net margin of 8.23% and a return on equity of 32.51%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 earnings per share. Equities analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, March 19th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, March 19th. This is an increase from Restaurant Brands International's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 3.6%. Restaurant Brands International's payout ratio is currently 105.08%.

Insider Activity at Restaurant Brands International

In other news, CEO Joshua Kobza sold 25,472 shares of Restaurant Brands International stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $70.91, for a total value of $1,806,219.52. Following the completion of the transaction, the chief executive officer owned 961,282 shares in the company, valued at approximately $68,164,506.62. This trade represents a 2.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sami A. Siddiqui sold 12,828 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total value of $866,018.28. Following the completion of the sale, the chief financial officer owned 31,923 shares of the company's stock, valued at $2,155,121.73. This trade represents a 28.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 186,401 shares of company stock worth $12,857,069 over the last quarter. 1.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QSR has been the subject of several recent analyst reports. Oppenheimer restated an "outperform" rating and set a $80.00 target price on shares of Restaurant Brands International in a research note on Tuesday, November 25th. Piper Sandler upgraded Restaurant Brands International from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $71.00 to $84.00 in a research note on Monday, March 2nd. Weiss Ratings reissued a "hold (c+)" rating on shares of Restaurant Brands International in a report on Thursday, January 22nd. TD Cowen lowered their price objective on Restaurant Brands International from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, February 12th. Finally, Stifel Nicolaus upgraded Restaurant Brands International from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $68.00 to $90.00 in a report on Monday, March 2nd. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.95.

About Restaurant Brands International

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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