Restaurant Brands International Inc. $QSR Stock Position Decreased by Swiss National Bank

Key Points

• Swiss National Bank trimmed its position in Restaurant Brands International by 5.3% in Q3, selling 50,300 shares and now holding 895,430 shares (~0.27% of the company) valued at about $57.47 million.
• RBI raised its quarterly dividend to $0.65 (from $0.62), an annualized $2.60 representing a ~3.6% yield, though the payout ratio is elevated at roughly 105%.
• Insiders sold 186,401 shares worth $12.86 million last quarter (including filings by Peter Perdue and Jill Granat) even as institutional ownership sits at 82.29% and analysts carry a consensus "Moderate Buy" with a $78.95 target price.

Swiss National Bank decreased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 895,430 shares of the restaurant operator's stock after selling 50,300 shares during the quarter. Swiss National Bank owned approximately 0.27% of Restaurant Brands International worth $57,468,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of QSR. Norges Bank bought a new position in shares of Restaurant Brands International during the second quarter valued at approximately $254,948,000. State Street Corp lifted its holdings in shares of Restaurant Brands International by 9,477.4% in the 2nd quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock worth $198,711,000 after purchasing an additional 2,966,048 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Restaurant Brands International by 112.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,296,050 shares of the restaurant operator's stock worth $286,172,000 after purchasing an additional 2,277,694 shares during the last quarter. Vanguard Group Inc. boosted its position in Restaurant Brands International by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,303,726 shares of the restaurant operator's stock valued at $1,015,137,000 after purchasing an additional 1,134,665 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Restaurant Brands International by 56.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,855,081 shares of the restaurant operator's stock valued at $189,510,000 after purchasing an additional 1,029,500 shares during the period. Institutional investors own 82.29% of the company's stock.

Insider Buying and Selling

In other news, insider Peter Perdue sold 3,882 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total value of $262,073.82. Following the completion of the transaction, the insider directly owned 42,906 shares in the company, valued at $2,896,584.06. This trade represents a 8.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Granat sold 11,525 shares of the firm's 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 $778,052.75. Following the transaction, the insider owned 476,126 shares in the company, valued at $32,143,266.26. This represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 186,401 shares of company stock worth $12,857,069. Company insiders own 1.25% of the company's stock.

Wall Street Analyst Weigh In

QSR has been the topic of several analyst reports. Piper Sandler raised Restaurant Brands International from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $71.00 to $84.00 in a research report on Monday, March 2nd. JPMorgan Chase & Co. reduced their price target on shares of Restaurant Brands International from $77.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, February 24th. Wells Fargo & Company upped their price target on shares of Restaurant Brands International from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 27th. Barclays dropped their price objective on shares of Restaurant Brands International from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Finally, BMO Capital Markets reduced their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, February 13th. Fourteen equities research 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. According to data from MarketBeat, Restaurant Brands International has an average rating of "Moderate Buy" and a consensus target price of $78.95.

Restaurant Brands International Price Performance

Shares of QSR opened at $72.04 on Thursday. The firm has a market capitalization of $24.96 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 2.05 and a beta of 0.56. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.91 and a current ratio of 0.98. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $74.42. The stock's fifty day moving average is $69.11 and its 200-day moving average is $67.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings data on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.41 billion. Restaurant Brands International had a net margin of 8.23% and a return on equity of 32.51%. The company's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Equities analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, March 19th will be given a dividend of $0.65 per share. This is a positive change from Restaurant Brands International's previous quarterly dividend of $0.62. The ex-dividend date is Thursday, March 19th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Restaurant Brands International's payout ratio is presently 105.08%.

Restaurant Brands International 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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