TD Asset Management Inc Buys 1,053,640 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Key Points

• TD Asset Management Inc increased its stake in Restaurant Brands International by 29.4%, now holding approximately 4.6 million shares valued at around $308.7 million.
• Restaurant Brands reported a miss in quarterly earnings, posting $0.75 EPS against estimates of $0.78, with revenue of $2.03 billion, below the consensus of $2.17 billion.
• The company announced a quarterly dividend of $0.62, which represents an annualized yield of 3.57% and a payout ratio of 84.07%.

TD Asset Management Inc increased its stake in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 29.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,631,461 shares of the restaurant operator's stock after acquiring an additional 1,053,640 shares during the period. TD Asset Management Inc owned about 1.41% of Restaurant Brands International worth $308,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GeoWealth Management LLC raised its holdings in shares of Restaurant Brands International by 7.0% during the fourth quarter. GeoWealth Management LLC now owns 2,487 shares of the restaurant operator's stock worth $162,000 after acquiring an additional 163 shares during the period. Capital Analysts LLC lifted its stake in Restaurant Brands International by 24.3% in the fourth quarter. Capital Analysts LLC now owns 952 shares of the restaurant operator's stock valued at $62,000 after acquiring an additional 186 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of Restaurant Brands International by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 400 shares of the restaurant operator's stock worth $26,000 after buying an additional 200 shares during the last quarter. Guggenheim Capital LLC lifted its stake in shares of Restaurant Brands International by 7.0% during the 4th quarter. Guggenheim Capital LLC now owns 3,438 shares of the restaurant operator's stock worth $224,000 after buying an additional 226 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Restaurant Brands International by 96.6% during the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator's stock worth $35,000 after buying an additional 255 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Price Performance

NYSE QSR traded down $0.47 on Monday, reaching $69.09. 1,577,292 shares of the company's stock traded hands, compared to its average volume of 2,029,391. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.96 and a quick ratio of 0.90. Restaurant Brands International Inc. has a 12 month low of $58.71 and a 12 month high of $74.09. The stock has a market cap of $22.64 billion, a PE ratio of 20.76, a P/E/G ratio of 2.17 and a beta of 0.58. The stock has a 50-day simple moving average of $68.72 and a 200 day simple moving average of $66.02.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.17 billion. Restaurant Brands International had a return on equity of 28.94% and a net margin of 10.82%. The business's revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. As a group, research analysts predict that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th were paid a dividend of $0.62 per share. The ex-dividend date was Tuesday, June 24th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.59%. Restaurant Brands International's dividend payout ratio (DPR) is presently 84.07%.

Insider Activity

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $70.08, for a total value of $4,905,600.00. Following the completion of the transaction, the insider directly owned 182,897 shares in the company, valued at $12,817,421.76. This represents a 27.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.36% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on QSR shares. Robert W. Baird dropped their price objective on shares of Restaurant Brands International from $72.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. CIBC dropped their price objective on shares of Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. UBS Group dropped their price objective on shares of Restaurant Brands International from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Bank of America decreased their target price 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. Finally, Truist Financial lifted their price target on shares of Restaurant Brands International from $78.00 to $81.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Restaurant Brands International currently has a consensus rating of "Hold" and a consensus price target of $76.09.

Restaurant Brands International Profile

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.