Swiss National Bank Lowers Position in Restaurant Brands International Inc. (NYSE:QSR)

Swiss National Bank lowered its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 875,330 shares of the restaurant operator’s stock after selling 17,300 shares during the period. Swiss National Bank owned approximately 0.27% of Restaurant Brands International worth $58,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital World Investors raised its holdings in shares of Restaurant Brands International by 2.0% in the 4th quarter. Capital World Investors now owns 43,418,188 shares of the restaurant operator’s stock valued at $2,829,974,000 after acquiring an additional 841,167 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Restaurant Brands International by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 14,169,061 shares of the restaurant operator’s stock valued at $944,538,000 after buying an additional 1,003,563 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Restaurant Brands International by 26.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator’s stock valued at $834,478,000 after buying an additional 2,695,071 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Restaurant Brands International by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,108,527 shares of the restaurant operator’s stock valued at $540,352,000 after buying an additional 47,192 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Restaurant Brands International by 17.1% during the 1st quarter. Mackenzie Financial Corp now owns 4,912,807 shares of the restaurant operator’s stock valued at $327,486,000 after buying an additional 717,867 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Jacqueline Friesner sold 70,000 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $70.08, for a total transaction of $4,905,600.00. Following the sale, the insider directly owned 182,897 shares of the company’s stock, valued at $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 this hyperlink. 1.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

QSR has been the topic of a number of research reports. Piper Sandler decreased their price objective on Restaurant Brands International from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday. CIBC decreased their price objective on Restaurant Brands International from $78.00 to $77.00 and set an “outperformer” rating on the stock in a report on Friday, May 9th. Melius initiated coverage on Restaurant Brands International in a report on Monday, July 14th. They set a “buy” rating and a $90.00 price objective on the stock. UBS Group decreased their price objective on Restaurant Brands International from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Finally, Scotiabank decreased their price objective on Restaurant Brands International from $75.00 to $71.00 and set a “sector perform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.00.

Restaurant Brands International Stock Down 0.8%

Shares of QSR stock opened at $64.54 on Monday. Restaurant Brands International Inc. has a 1-year low of $58.71 and a 1-year high of $74.09. The stock’s fifty day moving average price is $68.16 and its 200 day moving average price is $66.51. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.01 and a quick ratio of 0.95. The company has a market cap of $21.16 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.03). The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. On average, research analysts expect 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 will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 23rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 23rd. Restaurant Brands International’s dividend payout ratio (DPR) is 93.94%.

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.