Letko Brosseau & Associates Inc. Reduces Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Letko Brosseau & Associates Inc. decreased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 451,905 shares of the restaurant operator’s stock after selling 6,825 shares during the period. Letko Brosseau & Associates Inc. owned approximately 0.14% of Restaurant Brands International worth $30,121,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Arkadios Wealth Advisors purchased a new stake in shares of Restaurant Brands International during the first quarter worth about $2,030,000. Capricorn Fund Managers Ltd acquired a new stake in shares of Restaurant Brands International during the first quarter worth about $5,412,000. Fiera Capital Corp lifted its holdings in shares of Restaurant Brands International by 14.2% during the first quarter. Fiera Capital Corp now owns 4,219,476 shares of the restaurant operator’s stock worth $281,563,000 after purchasing an additional 523,829 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Restaurant Brands International by 17.1% during the first quarter. Mackenzie Financial Corp now owns 4,912,807 shares of the restaurant operator’s stock worth $327,486,000 after purchasing an additional 717,867 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Restaurant Brands International by 4.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 152,349 shares of the restaurant operator’s stock worth $10,154,000 after purchasing an additional 6,856 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Stock Down 0.4%

Shares of QSR opened at $68.77 on Wednesday. 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 Inc. has a one year low of $58.71 and a one year high of $74.09. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.15 and a beta of 0.58. The stock has a 50 day moving average price of $68.64 and a 200 day moving average price of $66.09.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 earnings per share. Equities research analysts forecast that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 24th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.61%. The ex-dividend date was Tuesday, June 24th. Restaurant Brands International’s payout ratio is currently 84.07%.

Wall Street Analysts Forecast Growth

QSR has been the subject of a number of research reports. CIBC decreased their target price on Restaurant Brands International from $78.00 to $77.00 and set an “outperformer” rating for the company in a report on Friday, May 9th. Oppenheimer lifted their target price on Restaurant Brands International from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, May 27th. Wells Fargo & Company decreased their target price on Restaurant Brands International from $69.00 to $66.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. UBS Group decreased their target price on Restaurant Brands International from $90.00 to $85.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Robert W. Baird decreased their target price on Restaurant Brands International from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, April 7th. One 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.09.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of the company’s stock in a transaction 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is currently owned by insiders.

Restaurant Brands International Company 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.