Restaurant Brands International Inc. $QSR Stock Holdings Cut by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

Key Points

• MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd cut its QSR stake by 20.3% in the third quarter, selling 72,679 shares and retaining 284,829 shares valued at approximately $20.25 million.
• Institutional ownership remains high at 82.29%, while analyst sentiment is broadly positive with a consensus “Moderate Buy” rating and an average price target of $83.52.
• QSR reported quarterly EPS of $1.07, exceeding estimates, and revenue of $2.52 billion, up 4.6% year over year; the company also maintains a $0.65 quarterly dividend, yielding about 3.5% annually.

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd reduced its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 20.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,829 shares of the restaurant operator's stock after selling 72,679 shares during the quarter. Restaurant Brands International comprises 2.6% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's portfolio, making the stock its 14th biggest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings in Restaurant Brands International were worth $20,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of QSR. EdgePoint Investment Group Inc. raised its position in shares of Restaurant Brands International by 16.2% in the 1st quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator's stock valued at $1,432,015,000 after acquiring an additional 2,703,134 shares during the period. Bank of America Corp DE grew its holdings in Restaurant Brands International by 143.9% during the first quarter. Bank of America Corp DE now owns 4,932,662 shares of the restaurant operator's stock valued at $364,524,000 after purchasing an additional 2,910,454 shares during the period. TD Waterhouse Canada Inc. grew its holdings in Restaurant Brands International by 4.4% during the third quarter. TD Waterhouse Canada Inc. now owns 2,583,329 shares of the restaurant operator's stock valued at $180,116,000 after purchasing an additional 109,723 shares during the period. London Co. of Virginia acquired a new position in Restaurant Brands International during the first quarter valued at approximately $147,967,000. Finally, Cullen Capital Management LLC bought a new stake in Restaurant Brands International in the second quarter valued at approximately $128,350,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QSR has been the topic of several analyst reports. Scotia cut their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set a "sector perform" rating on the stock in a report on Friday, August 7th. Morgan Stanley boosted their price target on shares of Restaurant Brands International from $79.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, October 15th. Robert W. Baird boosted their price target on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, August 24th. Royal Bank Of Canada lowered their price objective on shares of Restaurant Brands International from $80.00 to $79.00 and set a "neutral" rating for the company in a research report on Monday, October 19th. Finally, Citigroup dropped their price objective on Restaurant Brands International from $80.00 to $79.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 20th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.52.

Insider Activity

In other news, insider Axel Schwan sold 57,574 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $81.14, for a total transaction of $4,671,554.36. Following the completion of the sale, the insider owned 209,908 shares of the company's stock, valued at $17,031,935.12. This represents a 21.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

Restaurant Brands International Price Performance

Shares of QSR opened at $74.39 on Thursday. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a 50 day simple moving average of $74.85 and a 200 day simple moving average of $73.90. Restaurant Brands International Inc. has a 52-week low of $64.52 and a 52-week high of $81.96. The firm has a market capitalization of $25.94 billion, a PE ratio of 20.00, a P/E/G ratio of 2.12 and a beta of 0.52.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.52 billion. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. Sell-side analysts predict that Restaurant Brands International Inc. will post 4.04 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 18th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 18th. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. Restaurant Brands International's dividend payout ratio is currently 69.89%.

Restaurant Brands International Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company that owns and operates a portfolio of restaurant brands, primarily through franchised and licensed locations. Its brands include Tim Hortons, Burger King, Popeyes and Firehouse Subs, which serve coffee, baked goods, burgers, chicken, sandwiches and other prepared foods.

The company was formed in 2014 through the merger of Burger King Worldwide and Tim Hortons. RBI expanded its portfolio through the acquisition of Popeyes Louisiana Kitchen in 2017 and Firehouse Restaurant Group in 2021.

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