Maryland State Retirement & Pension System Acquires New Stake in Restaurant Brands International Inc. $QSR

Maryland State Retirement & Pension System acquired a new stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 15,725 shares of the restaurant operator’s stock, valued at approximately $1,042,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Restaurant Brands International by 16.7% in the 1st quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator’s stock valued at $1,507,839,000 after buying an additional 3,230,735 shares during the period. Vanguard Group Inc. raised its holdings in shares of Restaurant Brands International by 7.6% in 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 during the period. EdgePoint Investment Group Inc. increased its holdings in Restaurant Brands International by 7.0% during the 1st quarter. EdgePoint Investment Group Inc. now owns 13,715,604 shares of the restaurant operator’s stock worth $914,463,000 after purchasing an additional 896,034 shares during the period. Goldman Sachs Group Inc. increased its holdings in 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 worth $540,352,000 after purchasing an additional 47,192 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Restaurant Brands International by 4.3% during the 1st quarter. 1832 Asset Management L.P. now owns 6,959,757 shares of the restaurant operator’s stock worth $463,798,000 after purchasing an additional 289,233 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QSR. Guggenheim upped their price target on Restaurant Brands International from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Melius began coverage on Restaurant Brands International in a report on Monday, July 14th. They set a “buy” rating and a $90.00 price target on the stock. Scotiabank upped their price target on Restaurant Brands International from $71.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. Bank of America cut their price target on Restaurant Brands International from $62.00 to $60.00 and set an “underperform” rating on the stock in a report on Friday, July 18th. Finally, Argus downgraded Restaurant Brands International from a “buy” rating to a “hold” rating in a report on Friday, August 15th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.13.

Restaurant Brands International Trading Up 0.3%

QSR opened at $66.83 on Monday. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $74.09. The company has a market cap of $21.91 billion, a P/E ratio of 25.31, a PEG ratio of 2.88 and a beta of 0.65. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01. The business’s 50-day simple moving average is $64.70 and its 200-day simple moving average is $66.26.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.03). Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts expect that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 23rd were given a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.7%. Restaurant Brands International’s dividend payout ratio is 93.94%.

Restaurant Brands International 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.