Royal Bank of Canada Trims Holdings in Restaurant Brands International Inc. $QSR

Royal Bank of Canada lessened its stake in Restaurant Brands International Inc. (NYSE:QSRFree Report) (TSE:QSR) by 0.9% in the first quarter, Holdings Channel reports. The institutional investor owned 18,386,132 shares of the restaurant operator’s stock after selling 158,595 shares during the quarter. Royal Bank of Canada owned 0.05% of Restaurant Brands International worth $1,358,737,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. grew its stake in Restaurant Brands International by 16.2% in the first quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator’s stock worth $1,432,015,000 after purchasing an additional 2,703,134 shares in the last quarter. Quantinno Capital Management LP raised its stake in Restaurant Brands International by 78.5% during the first quarter. Quantinno Capital Management LP now owns 128,605 shares of the restaurant operator’s stock valued at $9,504,000 after buying an additional 56,543 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in Restaurant Brands International during the first quarter valued at approximately $494,000. Gateway Wealth Partners LLC bought a new position in Restaurant Brands International during the 1st quarter worth approximately $237,000. Finally, Quadcap Wealth Management LLC bought a new position in Restaurant Brands International during the 1st quarter worth approximately $304,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group raised their price objective on Restaurant Brands International from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Citigroup dropped their target price on shares of Restaurant Brands International from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. TD Cowen boosted their price objective on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Wells Fargo & Company increased their price target on Restaurant Brands International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, Scotiabank lifted 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 report on Thursday, May 7th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Restaurant Brands International currently has a consensus rating of “Moderate Buy” and an average price target of $83.86.

Get Our Latest Stock Analysis on Restaurant Brands International

Restaurant Brands International Price Performance

NYSE:QSR opened at $74.87 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55. The business’s 50-day moving average price is $73.96 and its 200 day moving average price is $73.38. Restaurant Brands International Inc. has a 52-week low of $61.33 and a 52-week high of $81.96. The firm has a market cap of $26.15 billion, a P/E ratio of 26.36, a PEG ratio of 2.17 and a beta of 0.50.

Restaurant Brands International (NYSE:QSRGet Free Report) (TSE:QSR) last released its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. As a group, sell-side analysts predict that Restaurant Brands International Inc. will post 4.04 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 3.5%. Restaurant Brands International’s dividend payout ratio (DPR) is currently 91.55%.

Restaurant Brands International Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding QSR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Restaurant Brands International Inc. (NYSE:QSRFree Report) (TSE:QSR).

Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

Receive News & Ratings for Restaurant Brands International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Restaurant Brands International and related companies with MarketBeat.com's FREE daily email newsletter.