Thoroughbred Financial Services LLC Acquires New Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Key Points

• Thoroughbred Financial Services LLC acquired a new stake in Restaurant Brands International Inc. (NYSE: QSR), purchasing 5,092 shares valued at approximately $339,000 in the first quarter of 2023.
• During the fourth quarter, several institutional investors, including Aviva PLC and Franklin Resources Inc., significantly increased their holdings in Restaurant Brands International, indicating strong institutional interest.
• Restaurant Brands International recently reported a net margin of 10.82% and a 15.9% year-over-year revenue growth, despite missing earnings expectations with $0.94 earnings per share against the consensus estimate of $0.97.

Thoroughbred Financial Services LLC bought a new stake in Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,092 shares of the restaurant operator's stock, valued at approximately $339,000.

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

Insider Activity

In related news, insider Jacqueline Friesner sold 70,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $70.08, for a total value of $4,905,600.00. Following the sale, the insider directly owned 182,897 shares of the company's stock, valued at approximately $12,817,421.76. This trade represents a 27.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is owned by corporate insiders.

Restaurant Brands International Price Performance

NYSE QSR traded down $0.53 during trading hours on Friday, reaching $64.54. The company's stock had a trading volume of 3,622,852 shares, compared to its average volume of 2,059,973. The stock has a market cap of $21.16 billion, a PE ratio of 24.45, a PEG ratio of 2.01 and a beta of 0.58. Restaurant Brands International Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $74.09. The company's 50-day moving average is $68.16 and its two-hundred day moving average is $66.48. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.90 and a current ratio of 0.96.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly 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 29.83% and a net margin of 9.43%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the business earned $0.86 earnings per share. Restaurant Brands International's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 23rd. Restaurant Brands International's dividend payout ratio (DPR) is currently 93.94%.

Analyst Ratings Changes

A number of research analysts have commented on QSR shares. Melius started coverage on Restaurant Brands International in a research note on Monday, July 14th. They issued a "buy" rating and a $90.00 target price on the stock. Sanford C. Bernstein set a $78.00 price target on Restaurant Brands International in a research report on Friday. Barclays reduced their price target on Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Friday. Wells Fargo & Company cut their price objective on Restaurant Brands International from $69.00 to $66.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup cut their price objective on Restaurant Brands International from $76.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $75.00.

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.