Scheer Rowlett & Associates Investment Management Ltd. Sells 146,158 Shares of Restaurant Brands International Inc. $QSR

Scheer Rowlett & Associates Investment Management Ltd. reduced its position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 23.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 475,142 shares of the restaurant operator’s stock after selling 146,158 shares during the quarter. Restaurant Brands International accounts for about 2.0% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 19th biggest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Restaurant Brands International were worth $31,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aviso Financial Inc. grew its stake in Restaurant Brands International by 1.2% in the first quarter. Aviso Financial Inc. now owns 953,186 shares of the restaurant operator’s stock valued at $63,566,000 after purchasing an additional 11,164 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Restaurant Brands International during the 1st quarter worth approximately $432,000. Raymond James Financial Inc. boosted its holdings in shares of Restaurant Brands International by 90.9% in the 1st quarter. Raymond James Financial Inc. now owns 563,747 shares of the restaurant operator’s stock valued at $37,568,000 after buying an additional 268,511 shares during the last quarter. Partners Capital Investment Group LLP grew its stake in shares of Restaurant Brands International by 91.2% in the first quarter. Partners Capital Investment Group LLP now owns 145,787 shares of the restaurant operator’s stock valued at $9,715,000 after buying an additional 69,557 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Restaurant Brands International by 11.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 78,845 shares of the restaurant operator’s stock worth $5,355,000 after buying an additional 7,988 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Argus cut shares of Restaurant Brands International from a “buy” rating to a “hold” rating in a research note on Friday, August 15th. Bank of America dropped their target price on shares of Restaurant Brands International from $62.00 to $60.00 and set an “underperform” rating on the stock in a report on Friday, July 18th. Piper Sandler reduced their price target on Restaurant Brands International from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, August 8th. Citigroup boosted their price target on Restaurant Brands International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Sanford C. Bernstein set a $78.00 price objective on Restaurant Brands International in a research report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.76.

Restaurant Brands International Stock Performance

Shares of NYSE QSR opened at $67.72 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.06 and a quick ratio of 0.98. The firm has a market cap of $22.20 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 2.69 and a beta of 0.63. The stock’s fifty day moving average price is $65.61 and its two-hundred day moving average price is $66.80. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $72.32.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Thursday, October 30th. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.03. Restaurant Brands International had a net margin of 9.95% and a return on equity of 32.43%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. Restaurant Brands International’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 23rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, December 23rd. Restaurant Brands International’s dividend payout ratio is presently 88.26%.

About Restaurant Brands International

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.