Burkett Asset Management Ltd Purchases New Position in Restaurant Brands International Inc. $QSR

Burkett Asset Management Ltd purchased a new stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,772 shares of the restaurant operator’s stock, valued at approximately $1,693,000. Restaurant Brands International accounts for 1.7% of Burkett Asset Management Ltd’s investment portfolio, making the stock its 20th largest holding.

Other hedge funds also recently bought and sold shares of the company. Hillsdale Investment Management Inc. increased its holdings in Restaurant Brands International by 23,154.1% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 39,532 shares of the restaurant operator’s stock valued at $2,535,000 after purchasing an additional 39,362 shares during the period. Fiera Capital Corp increased its holdings in Restaurant Brands International by 38.2% during the 4th quarter. Fiera Capital Corp now owns 6,835,522 shares of the restaurant operator’s stock valued at $466,595,000 after purchasing an additional 1,889,359 shares during the period. Geode Capital Management LLC increased its holdings in Restaurant Brands International by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 5,216,985 shares of the restaurant operator’s stock valued at $365,279,000 after purchasing an additional 295,935 shares during the period. UBS Group AG increased its holdings in Restaurant Brands International by 37.0% during the 4th quarter. UBS Group AG now owns 1,408,839 shares of the restaurant operator’s stock valued at $96,125,000 after purchasing an additional 380,635 shares during the period. Finally, EdgePoint Investment Group Inc. increased its holdings in Restaurant Brands International by 15.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 14,903,208 shares of the restaurant operator’s stock valued at $955,855,000 after purchasing an additional 1,983,354 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Stock Performance

Shares of QSR opened at $73.90 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 2.55. The business’s 50 day moving average price is $76.59 and its 200-day moving average price is $72.51. Restaurant Brands International Inc. has a 52 week low of $61.33 and a 52 week high of $81.96. The stock has a market cap of $25.67 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.90 and a beta of 0.49.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Restaurant Brands International had a return on equity of 32.80% and a net margin of 9.96%.The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Restaurant Brands International Inc. will post 4.07 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Restaurant Brands International’s payout ratio is currently 91.55%.

Insider Transactions at Restaurant Brands International

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 stock was sold at an average price of $75.05, for a total value of $15,010,000.00. Following the sale, the chief executive officer directly owned 960,769 shares of the company’s stock, valued at $72,105,713.45. The trade was a 17.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jill Granat sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $75.09, for a total value of $1,877,250.00. Following the completion of the sale, the insider directly owned 478,845 shares in the company, valued at approximately $35,956,471.05. This represents a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 350,000 shares of company stock worth $26,198,650. Company insiders own 1.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on QSR shares. KeyCorp upped their target price on Restaurant Brands International from $78.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Stifel Nicolaus upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $90.00 in a report on Monday, March 2nd. Oppenheimer upped their target price on Restaurant Brands International from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. Piper Sandler upgraded Restaurant Brands International from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $71.00 to $84.00 in a report on Monday, March 2nd. Finally, CL King set a $81.00 target price on Restaurant Brands International in a report on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.54.

Restaurant Brands International Profile

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.