Envestnet Portfolio Solutions Inc. Decreases Position in Restaurant Brands International Inc. $QSR

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 6.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,001 shares of the restaurant operator’s stock after selling 345 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Restaurant Brands International were worth $331,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in QSR. Davis Selected Advisers purchased a new stake in Restaurant Brands International during the first quarter worth approximately $224,744,000. Royal Bank of Canada lifted its stake in Restaurant Brands International by 16.7% during the first quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator’s stock worth $1,507,839,000 after purchasing an additional 3,230,735 shares during the last quarter. Invesco Ltd. lifted its stake in Restaurant Brands International by 465.8% during the first quarter. Invesco Ltd. now owns 2,644,757 shares of the restaurant operator’s stock worth $176,247,000 after purchasing an additional 2,177,302 shares during the last quarter. TD Asset Management Inc lifted its stake in Restaurant Brands International by 29.4% during the first quarter. TD Asset Management Inc now owns 4,631,461 shares of the restaurant operator’s stock worth $308,698,000 after purchasing an additional 1,053,640 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Restaurant Brands International by 7.6% during the first quarter. Vanguard Group Inc. now owns 14,169,061 shares of the restaurant operator’s stock worth $944,538,000 after purchasing an additional 1,003,563 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth

QSR has been the subject of a number of research reports. Melius initiated coverage on Restaurant Brands International in a research note on Monday, July 14th. They issued a “buy” rating and a $90.00 price objective for the company. Scotiabank boosted their price objective on Restaurant Brands International from $71.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Truist Financial boosted their price objective on Restaurant Brands International from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Guggenheim boosted their price objective on Restaurant Brands International from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Finally, Northcoast Research cut Restaurant Brands International from a “buy” rating to a “neutral” rating in a research note on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.42.

Restaurant Brands International Trading Down 0.3%

NYSE:QSR opened at $67.50 on Friday. The firm has a market cap of $22.13 billion, a P/E ratio of 25.57, a PEG ratio of 2.95 and a beta of 0.65. 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’s 50 day simple moving average is $64.97 and its 200-day simple moving average is $66.38. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $73.71.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.03). The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.33 billion. Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. Equities analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 23rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 23rd. Restaurant Brands International’s dividend payout ratio is currently 93.94%.

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.