The Manufacturers Life Insurance Company Lowers Position in Restaurant Brands International Inc. $QSR

Key Points

• The Manufacturers Life Insurance Company significantly reduced its holdings in Restaurant Brands International by 54.5%, selling over 1.4 million shares, leaving them with approximately 1.18 million shares valued at $78.7 million.
• Restaurant Brands International reported earnings of $0.94 per share for the last quarter, missing analysts' expectations of $0.97, despite a 15.9% increase in revenue to $2.41 billion.
• The company declared a quarterly dividend of $0.62 per share, with a dividend yield of 3.9%, indicating a strong commitment to returning value to stockholders.

The Manufacturers Life Insurance Company lessened its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 54.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176,795 shares of the restaurant operator's stock after selling 1,412,113 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.36% of Restaurant Brands International worth $78,712,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Simcoe Capital Management LLC bought a new stake in Restaurant Brands International in the 1st quarter worth about $8,003,000. Lansforsakringar Fondforvaltning AB publ boosted its holdings in Restaurant Brands International by 1.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 67,510 shares of the restaurant operator's stock worth $4,500,000 after buying an additional 1,082 shares during the period. Harvest Portfolios Group Inc. boosted its holdings in shares of Restaurant Brands International by 1.5% in the first quarter. Harvest Portfolios Group Inc. now owns 45,293 shares of the restaurant operator's stock worth $3,019,000 after acquiring an additional 665 shares during the period. Baupost Group LLC MA increased its position in shares of Restaurant Brands International by 33.9% during the first quarter. Baupost Group LLC MA now owns 3,886,562 shares of the restaurant operator's stock valued at $259,000,000 after buying an additional 984,862 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Restaurant Brands International during the 1st quarter valued at $1,321,000. Institutional investors and hedge funds own 82.29% of the company's stock.

Analysts Set New Price Targets

QSR has been the topic of a number of research reports. Melius assumed coverage on Restaurant Brands International in a report on Monday, July 14th. They set a "buy" rating and a $90.00 price objective on the stock. Morgan Stanley decreased their price target on shares of Restaurant Brands International from $73.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Oppenheimer upped their price objective on shares of Restaurant Brands International from $77.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Truist Financial lifted their target price on shares of Restaurant Brands International from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler reduced their price objective on Restaurant Brands International from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $75.04.

Restaurant Brands International Stock Down 0.2%

NYSE:QSR traded down $0.10 on Wednesday, reaching $62.40. 2,155,333 shares of the stock traded hands, compared to its average volume of 2,480,323. The company's fifty day simple moving average is $66.68 and its 200 day simple moving average is $66.55. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 2.73 and a beta of 0.61. Restaurant Brands International Inc. has a 12 month low of $58.71 and a 12 month high of $74.09. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 2.69.

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

Restaurant Brands International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 23rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 23rd. Restaurant Brands International's payout ratio is presently 93.94%.

Restaurant Brands International 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.