Russell Investments Group Ltd. Sells 23,909 Shares of Restaurant Brands International Inc. $QSR

Key Points

• Russell Investments Group Ltd. cut its stake in Restaurant Brands International Inc. (NYSE:QSR) by 22.9% during Q1, selling 23,909 shares to hold 80,506 shares valued at approximately $5.32 million.
• Other institutional investors like Vanguard Group and TD Asset Management increased their stakes by 7.6% and 29.4% respectively, leading to hedge funds owning 82.29% of the stock.
• Analyst ratings are mixed, with a consensus rating of "Hold" and target prices ranging from $72.00 to $85.00, following the company's recent earnings miss for EPS estimates.

Russell Investments Group Ltd. decreased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 22.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,506 shares of the restaurant operator's stock after selling 23,909 shares during the quarter. Russell Investments Group Ltd.'s holdings in Restaurant Brands International were worth $5,321,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Restaurant Brands International by 55.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 70,857 shares of the restaurant operator's stock valued at $4,759,000 after purchasing an additional 25,292 shares in the last quarter. Private Trust Co. NA raised its stake in Restaurant Brands International by 96.6% during the first quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock valued at $35,000 after purchasing an additional 255 shares in the last quarter. Canoe Financial LP raised its stake in Restaurant Brands International by 14.4% during the first quarter. Canoe Financial LP now owns 2,307,351 shares of the restaurant operator's stock valued at $153,834,000 after purchasing an additional 291,269 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Restaurant Brands International by 8.7% during the first quarter. Janney Montgomery Scott LLC now owns 5,889 shares of the restaurant operator's stock valued at $392,000 after purchasing an additional 470 shares in the last quarter. Finally, Advisor Resource Council purchased a new stake in Restaurant Brands International during the first quarter valued at $333,000. Hedge funds and other institutional investors own 82.29% of the company's stock.

Restaurant Brands International Trading Down 0.2%

Shares of NYSE QSR traded down $0.11 during mid-day trading on Wednesday, reaching $62.65. The company had a trading volume of 1,895,793 shares, compared to its average volume of 2,418,867. The business's 50-day moving average is $66.90 and its 200-day moving average is $66.63. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 2.69. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $74.09.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. Equities analysts expect that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of Restaurant Brands International from $80.00 to $77.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Morgan Stanley reduced their target price 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. Citigroup reduced their target price on shares of Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Piper Sandler reduced their target price on shares of 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. Finally, Bank of America cut their price target on shares of Restaurant Brands International from $62.00 to $60.00 and set an "underperform" rating on the stock in a report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $75.04.

About Restaurant Brands International

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.