Restaurant Brands International Inc. $QSR is Canoe Financial LP’s 3rd Largest Position

Canoe Financial LP grew its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 34.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,348,043 shares of the restaurant operator’s stock after acquiring an additional 858,490 shares during the period. Restaurant Brands International comprises about 3.4% of Canoe Financial LP’s investment portfolio, making the stock its 3rd biggest holding. Canoe Financial LP’s holdings in Restaurant Brands International were worth $247,664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QSR. Baupost Group LLC MA lifted its stake in shares of Restaurant Brands International by 103.8% in the third 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 in the last quarter. Platinum Paramount Investment LTD. acquired a new stake in Restaurant Brands International during the 4th quarter valued at approximately $281,033,000. Norges Bank acquired a new stake in Restaurant Brands International during the 4th quarter valued at approximately $260,709,000. Capital World Investors increased its holdings in Restaurant Brands International by 7.7% during the 4th quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator’s stock worth $2,969,819,000 after purchasing an additional 3,095,167 shares during the last quarter. Finally, State Street Corp increased its holdings in 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 purchasing an additional 2,966,048 shares during the last quarter. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QSR. Robert W. Baird upped their target price on Restaurant Brands International from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Piper Sandler raised shares of Restaurant Brands International from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $71.00 to $84.00 in a research report on Monday, March 2nd. KeyCorp lifted their price target on shares of Restaurant Brands International from $78.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Guggenheim upped their price target on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Scotia increased their price objective 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. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.54.

Restaurant Brands International Trading Up 0.0%

Shares of NYSE QSR opened at $74.36 on Monday. The stock’s 50 day moving average price is $75.86 and its two-hundred day moving average price is $72.65. Restaurant Brands International Inc. has a 52-week low of $61.33 and a 52-week high of $81.96. The stock has a market capitalization of $25.83 billion, a P/E ratio of 26.18, a PEG ratio of 1.93 and a beta of 0.49. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.Restaurant Brands International’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, analysts anticipate that Restaurant Brands International Inc. will post 4.07 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Restaurant Brands International’s dividend payout ratio is currently 91.55%.

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.