EdgePoint Investment Group Inc. Sells 795,750 Shares of Restaurant Brands International Inc. $QSR

EdgePoint Investment Group Inc. trimmed its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,919,854 shares of the restaurant operator’s stock after selling 795,750 shares during the quarter. Restaurant Brands International comprises 6.5% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 5th biggest holding. EdgePoint Investment Group Inc. owned 3.94% of Restaurant Brands International worth $857,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of QSR. Norges Bank purchased a new stake in shares of Restaurant Brands International during the second quarter worth approximately $254,948,000. Royal Bank of Canada raised its position in Restaurant Brands International by 16.7% during the 1st quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator’s stock worth $1,507,839,000 after buying an additional 3,230,735 shares during the last quarter. State Street Corp raised its position in Restaurant Brands International by 9,477.4% during the 2nd quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator’s stock worth $198,711,000 after buying an additional 2,966,048 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Restaurant Brands International by 112.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,296,050 shares of the restaurant operator’s stock worth $286,172,000 after acquiring an additional 2,277,694 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Restaurant Brands International by 8.0% in the second quarter. Vanguard Group Inc. now owns 15,303,726 shares of the restaurant operator’s stock valued at $1,015,137,000 after acquiring an additional 1,134,665 shares in the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Restaurant Brands International Price Performance

Shares of NYSE QSR opened at $70.73 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 2.65. The company’s 50-day moving average price is $68.89 and its 200 day moving average price is $67.36. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $73.70. The stock has a market cap of $23.19 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.80 and a beta of 0.60.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, October 30th. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.03. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.39 billion. Restaurant Brands International had a net margin of 9.95% and a return on equity of 32.43%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. As a group, research analysts forecast that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a $2.48 annualized dividend and a yield of 3.5%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 88.26%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on QSR. Oppenheimer restated an “outperform” rating and issued a $80.00 price objective on shares of Restaurant Brands International in a research report on Tuesday, November 25th. Royal Bank Of Canada restated an “outperform” rating and issued a $82.00 price target on shares of Restaurant Brands International in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Restaurant Brands International in a report on Wednesday, October 8th. Northcoast Research downgraded Restaurant Brands International from a “buy” rating to a “neutral” rating in a report on Friday, September 12th. Finally, Citigroup boosted their target price on shares of Restaurant Brands International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Ten investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Restaurant Brands International presently has a consensus rating of “Hold” and an average price target of $75.45.

Insiders Place Their Bets

In other news, Chairman J Patrick Doyle sold 43,597 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $69.80, for a total value of $3,043,070.60. Following the sale, the chairman directly owned 193,855 shares in the company, valued at $13,531,079. This represents a 18.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ali Hedayat sold 7,000 shares of Restaurant Brands International stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $72.77, for a total value of $509,390.00. Following the sale, the director owned 18,962 shares of the company’s stock, valued at approximately $1,379,864.74. This represents a 26.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.25% of the company’s stock.

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.