Restaurant Brands International Inc. $QSR Stock Holdings Increased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management boosted its stake in Restaurant Brands International by 79.3% in the first quarter, buying an additional 306,555 shares and bringing its total to 693,116 shares worth about $51.1 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 82.29% of the company’s stock. Several other funds also recently added or adjusted positions in QSR.
• Restaurant Brands International reported better-than-expected quarterly results, with EPS of $0.86 versus estimates of $0.83 and revenue of $2.26 billion versus $2.24 billion expected. The company also declared a quarterly dividend of $0.65 per share, equal to a 3.6% annual yield.

Cidel Asset Management Inc. lifted its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 79.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 693,116 shares of the restaurant operator's stock after acquiring an additional 306,555 shares during the period. Restaurant Brands International accounts for approximately 2.8% of Cidel Asset Management Inc.'s portfolio, making the stock its 7th biggest holding. Cidel Asset Management Inc. owned 0.20% of Restaurant Brands International worth $51,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lloyd Advisory Services LLC. acquired a new stake in shares of Restaurant Brands International during the 4th quarter worth about $25,000. Larson Financial Group LLC raised its position 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 buying an additional 346 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Restaurant Brands International during the fourth quarter valued at approximately $29,000. UMB Bank n.a. lifted its stake in shares of Restaurant Brands International by 50.4% during the fourth quarter. UMB Bank n.a. now owns 639 shares of the restaurant operator's stock valued at $44,000 after buying an additional 214 shares during the period. Finally, Capital Analysts LLC boosted its position in Restaurant Brands International by 20.6% during the fourth quarter. Capital Analysts LLC now owns 924 shares of the restaurant operator's stock worth $63,000 after acquiring an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company's stock.

Wall Street Analyst Weigh In

QSR has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Restaurant Brands International from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Truist Financial raised their price objective on Restaurant Brands International from $83.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $86.00 price objective on shares of Restaurant Brands International in a report on Thursday, May 7th. TD Cowen lifted their price objective on Restaurant Brands International from $76.00 to $79.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird upped their target price on Restaurant Brands International from $72.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.54.

Restaurant Brands International Stock Performance

NYSE:QSR opened at $71.64 on Wednesday. The company has a market cap of $24.88 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.86 and a beta of 0.49. The firm's 50 day moving average is $76.15 and its two-hundred day moving average is $72.63. Restaurant Brands International Inc. has a fifty-two week low of $61.33 and a fifty-two week high of $81.96. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. Restaurant Brands International had a net margin of 9.96% and a return on equity of 32.80%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. Analysts expect that Restaurant Brands International Inc. will post 4.07 EPS for the current year.

Restaurant Brands International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.60 annualized dividend and a yield of 3.6%. Restaurant Brands International's dividend payout ratio is currently 91.55%.

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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