Gateway Investment Advisers LLC reduced its holdings in Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) by 30.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission on Form 13F. The institutional investor owned 88,687 shares of the restaurant operator’s stock after selling 39,267 shares during the period. Gateway Investment Advisers LLC’s holdings in Restaurant Brands International were worth $6,241,000, according to the company’s most recent filing with the Securities and Exchange Commission.
Other major investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of Restaurant Brands International by 209.0% in the fourth quarter. Fifth Third Bancorp now owns 411 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 278 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Restaurant Brands International in the 4th quarter valued at about $3,703,000. International Assets Investment Management LLC acquired a new stake in shares of Restaurant Brands International in the 4th quarter valued at about $5,634,000. Stratos Wealth Partners LTD. increased its holdings in shares of Restaurant Brands International by 20.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 7,647 shares of the restaurant operator’s stock valued at $597,000 after purchasing an additional 1,318 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Restaurant Brands International by 1.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 40,156 shares of the restaurant operator’s stock valued at $3,113,000 after purchasing an additional 573 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Upgrades and downgrades by analysts
Several equities analysts have commented on QSR shares. TD Securities raised their price target on Restaurant Brands International from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Truist Financial lowered their price target on shares of Restaurant Brands International from $90.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Wells Fargo & Company lowered their price target on shares of Restaurant Brands International from $80.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen reiterated a “buy” rating and issued a $88.00 price target on shares of Restaurant Brands International in a research report on Thursday. Finally, Morgan Stanley decreased their price target on shares of Restaurant Brands International from $86.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16. One research analyst rated the stock with a sell rating, nine have given a hold rating, and nineteen have given a buy rating. The company currently has a consensus rating of “Moderate Buy” and an average price target of $83.48, according to MarketBeat.com.
Check out our latest research report on QSR
Restaurant Brands International share price fell 2.0%
QSR shares fell $1.42 during midday trading on Friday, reaching $70.51. The stock’s trading volume was 1,652,602 shares, compared to its average volume of 1,635,205. The company has a market cap of $22.34 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.06 and a beta of 0.92. The company’s 50-day simple moving average is $70.19 and its 200-day simple moving average is $73.54. Restaurant Brands International Inc. has a 1-year low of $61.77 and a 1-year high of $83.29. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.08 and a quick ratio of 1.00.
Restaurant Brands International (NYSE:QSR – Free Report) (TSE:QSR) last released its quarterly earnings results on Thursday, August 8. The restaurant operator reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $2.08 billion for the quarter, compared to analyst expectations of $2.05 billion. Restaurant Brands International had a return on equity of 31.12% and a net margin of 17.17%. Equities analysts expect Restaurant Brands International Inc. to post earnings per share of $3.37 for the current year.
Restaurant Brands International announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will receive a dividend of $0.58 per share. This represents an annualized dividend of $2.32 and a yield of 3.29%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s payout ratio is 59.79%.
About Restaurant Brands International
(Free report)
Restaurant Brands International Inc. is 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 operates the TH chain of doughnut/coffee/tea restaurants that offer coffee blends, tea and hot and cold espresso-based specialty beverages, as well as fresh baked goods, including doughnuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups and other food items.
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