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

Key Points

• Picton Mahoney cut its stake in Restaurant Brands International by 96.1% in Q3, selling 278,083 shares and leaving 11,428 shares valued at about $733,000.
• RBI raised its quarterly dividend to $0.65 (from $0.62), a 3.5% yield, though the payout ratio is high at 105.08%.
• RBI beat the quarter with $0.96 EPS (vs. $0.93 est.) and $2.47B revenue (vs. $2.41B est.); analysts have a consensus rating of Moderate Buy with a $78.95 average price target amid mixed upgrades and downgrades.

Picton Mahoney Asset Management lessened its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 96.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,428 shares of the restaurant operator's stock after selling 278,083 shares during the period. Picton Mahoney Asset Management's holdings in Restaurant Brands International were worth $733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have 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. Atria Investments Inc lifted its holdings in shares of Restaurant Brands International by 12.1% during the second quarter. Atria Investments Inc now owns 5,250 shares of the restaurant operator's stock worth $348,000 after purchasing an additional 565 shares during the period. Bank of New York Mellon Corp grew its position in Restaurant Brands International by 136.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 841,292 shares of the restaurant operator's stock valued at $55,769,000 after buying an additional 485,166 shares during the last quarter. Andra AP fonden purchased a new position in Restaurant Brands International in the 2nd quarter valued at $80,000. Finally, Savant Capital LLC acquired a new position in Restaurant Brands International in the 2nd quarter valued at $217,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QSR has been the subject of a number of analyst reports. Scotiabank cut their price objective on shares of Restaurant Brands International from $74.00 to $71.00 and set a "sector perform" rating for the company in a research report on Friday, February 13th. TD Cowen lowered their target price on shares of Restaurant Brands International from $74.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. Argus upgraded shares of Restaurant Brands International from a "hold" rating to a "buy" rating and set a $85.00 price target on the stock in a research note on Tuesday, December 2nd. Royal Bank Of Canada increased their price target on shares of Restaurant Brands International from $80.00 to $83.00 and gave the stock an "outperform" rating in a report on Monday, March 2nd. Finally, Guggenheim raised their price objective on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Restaurant Brands International has an average rating of "Moderate Buy" and a consensus target price of $78.95.

Insider Activity

In other news, insider Jacqueline Friesner sold 4,617 shares of Restaurant Brands International stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $311,693.67. Following the completion of the sale, the insider directly owned 194,201 shares in the company, valued at approximately $13,110,509.51. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Duncan Fulton sold 10,308 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $67.51, for a total value of $695,893.08. Following the sale, the insider directly owned 49,677 shares in the company, valued at $3,353,694.27. This trade represents a 17.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 186,401 shares of company stock valued at $12,857,069 in the last quarter. Insiders own 1.25% of the company's stock.

Restaurant Brands International Trading Up 1.0%

NYSE:QSR opened at $74.06 on Friday. Restaurant Brands International Inc. has a 1 year low of $58.71 and a 1 year high of $74.42. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.91 and a current ratio of 0.98. The stock has a fifty day moving average price of $68.88 and a two-hundred day moving average price of $67.78. The stock has a market capitalization of $25.66 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 2.10 and a beta of 0.56.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its 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. Restaurant Brands International had a net margin of 8.23% and a return on equity of 32.51%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business's revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, March 19th will be issued a dividend of $0.65 per share. This is an increase from Restaurant Brands International's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, March 19th. Restaurant Brands International's payout ratio is presently 105.08%.

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.

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