The Manufacturers Life Insurance Company Has $81.51 Million Holdings in Restaurant Brands International Inc. $QSR

Key Points

• The Manufacturers Life Insurance Company reduced its Restaurant Brands International stake by 6.7% in the first quarter, selling 78,720 shares and retaining 1.10 million shares worth approximately $81.5 million.
• Restaurant Brands International reported quarterly EPS of $0.86, surpassing estimates of $0.83, while revenue rose 7.3% year over year to $2.26 billion.
• QSR shares opened at $75.54, and analysts maintain a “Moderate Buy” consensus with an average price target of $83.86. The company also pays a quarterly dividend of $0.65, offering a 3.4% annualized yield.

The Manufacturers Life Insurance Company decreased its position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,102,497 shares of the restaurant operator's stock after selling 78,720 shares during the quarter. The Manufacturers Life Insurance Company owned 0.32% of Restaurant Brands International worth $81,509,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Baupost Group LLC MA lifted its holdings in shares of Restaurant Brands International by 103.8% during the 3rd quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator's stock worth $529,337,000 after acquiring an additional 4,203,300 shares during the period. Platinum Paramount Investment LTD. bought a new position in Restaurant Brands International in the fourth quarter valued at approximately $281,033,000. Norges Bank acquired a new position in Restaurant Brands International during the fourth quarter valued at approximately $260,709,000. Capital World Investors raised its position in Restaurant Brands International by 7.7% during the fourth quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator's stock valued at $2,969,819,000 after purchasing an additional 3,095,167 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Restaurant Brands International by 9,477.4% during the 2nd quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock worth $198,711,000 after buying an additional 2,966,048 shares in the last quarter. 82.29% of the stock is owned by institutional investors.

Restaurant Brands International Price Performance

Shares of QSR opened at $75.54 on Thursday. Restaurant Brands International Inc. has a 12-month low of $61.33 and a 12-month high of $81.96. The business has a 50-day simple moving average of $73.94 and a two-hundred day simple moving average of $73.43. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55. The stock has a market cap of $26.38 billion, a PE ratio of 26.60, a PEG ratio of 2.18 and a beta of 0.50.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. Analysts anticipate that Restaurant Brands International Inc. will post 4.04 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Tuesday, June 23rd. Restaurant Brands International's dividend payout ratio (DPR) is 91.55%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on QSR. Guggenheim raised their price objective on Restaurant Brands International from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. UBS Group boosted their target price on Restaurant Brands International from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Wells Fargo & Company increased 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 report on Thursday, May 7th. Scotiabank raised their price target on shares of Restaurant Brands International from $81.00 to $83.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Restaurant Brands International from $77.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Restaurant Brands International presently has a consensus rating of "Moderate Buy" and an average target price of $83.86.

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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