Canoe Financial LP Trims Stock Position in Restaurant Brands International Inc. $QSR

Canoe Financial LP cut its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,489,553 shares of the restaurant operator’s stock after selling 33,714 shares during the quarter. Restaurant Brands International comprises 2.3% of Canoe Financial LP’s investment portfolio, making the stock its 12th biggest position. Canoe Financial LP’s holdings in Restaurant Brands International were worth $169,889,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Restaurant Brands International in the third quarter worth $29,000. Cary Street Partners Investment Advisory LLC bought a new stake in Restaurant Brands International during the second quarter valued at $35,000. Elevation Point Wealth Partners LLC purchased a new position in Restaurant Brands International during the second quarter worth about $36,000. Exchange Traded Concepts LLC bought a new position in Restaurant Brands International in the 3rd quarter worth about $48,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Restaurant Brands International by 41.0% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,032 shares of the restaurant operator’s stock worth $66,000 after acquiring an additional 300 shares during the last quarter. 82.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QSR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Restaurant Brands International from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. BMO Capital Markets decreased their price objective on shares of Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Guggenheim raised their target price on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Restaurant Brands International in a research note on Thursday, January 22nd. Finally, Argus raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, December 2nd. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.19.

Restaurant Brands International Price Performance

QSR opened at $71.48 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 2.62. The stock has a market capitalization of $24.81 billion, a P/E ratio of 30.29, a PEG ratio of 2.03 and a beta of 0.56. The stock has a 50-day moving average price of $70.33 and a 200-day moving average price of $68.88. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $75.67.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Restaurant Brands International had a return on equity of 32.51% and a net margin of 8.23%.Restaurant Brands International’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. Equities analysts predict that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, March 19th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 19th. Restaurant Brands International’s payout ratio is 110.17%.

Insider Activity

In other news, CEO Joshua Kobza sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $75.05, for a total value of $15,010,000.00. Following the completion of the sale, the chief executive officer directly owned 960,769 shares in the company, valued at approximately $72,105,713.45. The trade was a 17.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Axel Schwan sold 34,939 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total transaction of $2,358,731.89. Following the completion of the sale, the insider directly owned 194,984 shares of the company’s stock, valued at $13,163,369.84. This trade represents a 15.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 455,191 shares of company stock valued at $33,299,206. Insiders own 1.25% of the company’s stock.

About Restaurant Brands International

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.