Raymond James & Associates boosted its holdings in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 70.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,590 shares of the restaurant operator’s stock after buying an additional 11,777 shares during the quarter. Raymond James & Associates’ holdings in Restaurant Brands International were worth $1,724,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in QSR. Lenox Wealth Advisors LLC acquired a new position in Restaurant Brands International during the second quarter worth approximately $103,000. Daiwa Securities Group Inc. acquired a new position in Restaurant Brands International during the second quarter worth approximately $133,000. SG Americas Securities LLC acquired a new position in Restaurant Brands International during the second quarter worth approximately $162,000. Northwestern Mutual Wealth Management Co. increased its position in Restaurant Brands International by 56.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,722 shares of the restaurant operator’s stock worth $225,000 after buying an additional 1,337 shares during the last quarter. Finally, Worth Venture Partners LLC acquired a new position in Restaurant Brands International during the first quarter worth approximately $236,000. 79.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QSR stock opened at $57.74 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.24 and a quick ratio of 1.17. The company has a market capitalization of $14.89 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.58 and a beta of 1.40. Restaurant Brands International Inc has a 1 year low of $53.09 and a 1 year high of $68.89.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Wednesday, August 1st. The restaurant operator reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Restaurant Brands International had a return on equity of 28.10% and a net margin of 13.68%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, analysts predict that Restaurant Brands International Inc will post 2.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Thursday, September 6th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 85.71%.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, June 26th. ValuEngine upgraded Restaurant Brands International from a “sell” rating to a “hold” rating in a report on Friday. Citigroup boosted their price objective on Restaurant Brands International from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Wells Fargo & Co restated a “market perform” rating and set a $70.00 price objective (up previously from $61.00) on shares of Restaurant Brands International in a report on Wednesday, July 25th. Finally, KeyCorp assumed coverage on Restaurant Brands International in a report on Wednesday, October 3rd. They set an “overweight” rating and a $68.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.06.
Restaurant Brands International Profile
Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.
Further Reading: Price to Earnings Ratio (PE) Basics
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