Restaurant Brands International Inc. $QSR Stock Position Boosted by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Restaurant Brands International by 6.0% in the fourth quarter, ending with 5.22 million shares valued at about $365.3 million.
• The company’s latest earnings beat expectations, reporting EPS of $0.86 versus $0.83 expected and revenue of $2.26 billion, with quarterly revenue up 7.3% year over year.
• Restaurant Brands International announced a quarterly dividend of $0.65 per share, equivalent to an annual yield of about 3.6%; analysts also maintain a Moderate Buy consensus with a target price of $83.54.

Geode Capital Management LLC boosted its stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 6.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,216,985 shares of the restaurant operator's stock after buying an additional 295,935 shares during the period. Geode Capital Management LLC owned 1.51% of Restaurant Brands International worth $365,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legal & General Group Plc grew its position in Restaurant Brands International by 5.1% in the 4th quarter. Legal & General Group Plc now owns 1,693,511 shares of the restaurant operator's stock valued at $115,708,000 after buying an additional 81,533 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Restaurant Brands International by 195.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,067 shares of the restaurant operator's stock valued at $73,000 after buying an additional 706 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in Restaurant Brands International in the 4th quarter valued at about $25,000. Global Retirement Partners LLC grew its position in Restaurant Brands International by 231.1% in the 4th quarter. Global Retirement Partners LLC now owns 970 shares of the restaurant operator's stock valued at $66,000 after buying an additional 677 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in Restaurant Brands International in the 4th quarter valued at about $499,000. Institutional investors own 82.29% of the company's stock.

Insider Buying and Selling

In related news, insider Jill Granat sold 25,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $74.76, for a total value of $1,869,000.00. Following the transaction, the insider owned 478,845 shares in the company, valued at approximately $35,798,452.20. This represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Housman sold 20,000 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $73.48, for a total value of $1,469,600.00. Following the completion of the transaction, the insider owned 162,077 shares in the company, valued at $11,909,417.96. This represents a 10.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 350,000 shares of company stock worth $26,198,650 over the last ninety days. 1.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Restaurant Brands International from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Morgan Stanley upped their price target on shares of Restaurant Brands International from $77.00 to $78.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. Piper Sandler raised shares of Restaurant Brands International from a "neutral" rating to an "overweight" rating and upped their price target for the company from $71.00 to $84.00 in a report on Monday, March 2nd. CL King set a $81.00 price target on shares of Restaurant Brands International in a report on Thursday, May 7th. Finally, TD Cowen upped their price target on shares of Restaurant Brands International from $76.00 to $79.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. Seventeen 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 company's stock. According to data from MarketBeat.com, Restaurant Brands International presently has an average rating of "Moderate Buy" and a consensus target price of $83.54.

Restaurant Brands International Price Performance

Shares of QSR opened at $72.87 on Tuesday. The company has a market capitalization of $25.31 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.94 and a beta of 0.53. 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 debt-to-equity ratio of 2.55, a current ratio of 0.99 and a quick ratio of 0.90. The business's 50-day moving average is $76.74 and its 200-day moving average is $72.29.

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

Restaurant Brands International Announces Dividend

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

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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