Riverhead Capital Management LLC Has $144,000 Holdings in Restaurant Brands International Inc. (QSR)
Riverhead Capital Management LLC held its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308 shares of the restaurant operator’s stock at the close of the second quarter. Riverhead Capital Management LLC’s holdings in Restaurant Brands International were worth $144,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of QSR. CI Global Investments Inc. increased its stake in Restaurant Brands International by 15,143.9% in the second quarter. CI Global Investments Inc. now owns 500,000 shares of the restaurant operator’s stock valued at $31,270,000 after purchasing an additional 496,720 shares during the period. AXA raised its holdings in shares of Restaurant Brands International by 7.6% in the second quarter. AXA now owns 8,179 shares of the restaurant operator’s stock valued at $511,000 after buying an additional 579 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Restaurant Brands International by 7.2% during the second quarter. Wells Fargo & Company MN now owns 252,547 shares of the restaurant operator’s stock worth $15,794,000 after buying an additional 17,022 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Restaurant Brands International by 9.0% during the second quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock worth $197,000 after buying an additional 261 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in shares of Restaurant Brands International during the second quarter worth about $957,000. 76.64% of the stock is currently owned by institutional investors.
Shares of Restaurant Brands International Inc. (NYSE QSR) opened at 64.04 on Wednesday. Restaurant Brands International Inc. has a 12-month low of $42.35 and a 12-month high of $65.92. The firm has a market capitalization of $15.13 billion, a PE ratio of 44.81 and a beta of 1.77. The stock has a 50 day moving average price of $62.58 and a 200 day moving average price of $60.03.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts predict that Restaurant Brands International Inc. will post $1.90 EPS for the current fiscal year.
Restaurant Brands International declared that its board has approved a stock repurchase program on Wednesday, August 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the restaurant operator to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.19. Restaurant Brands International’s dividend payout ratio is currently 55.56%.
A number of equities analysts recently issued reports on the company. Piper Jaffray Companies reissued an “overweight” rating and set a $66.00 price target on shares of Restaurant Brands International in a report on Tuesday, June 6th. Bank of America Corporation restated a “neutral” rating and issued a $62.00 price target (up previously from $58.00) on shares of Restaurant Brands International in a research report on Tuesday, June 13th. UBS AG raised Restaurant Brands International from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Oppenheimer Holdings, Inc. raised Restaurant Brands International from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Wednesday, June 14th. Finally, CIBC raised Restaurant Brands International from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Wednesday, June 14th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Restaurant Brands International has an average rating of “Buy” and an average price target of $67.60.
In other news, Director Ali Hedayat acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average cost of $61.32 per share, for a total transaction of $306,600.00. Following the transaction, the director now directly owns 25,966 shares in the company, valued at approximately $1,592,235.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jose E. Cil sold 132,911 shares of Restaurant Brands International stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $63.77, for a total transaction of $8,475,734.47. Following the completion of the sale, the executive vice president now owns 174,631 shares in the company, valued at $11,136,218.87. The disclosure for this sale can be found here. 3.05% of the stock is currently owned by corporate insiders.
About Restaurant Brands International
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.
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