M&G Investment Management Ltd. Reduces Stake in Restaurant Brands International Inc. (NYSE:QSR)

M&G Investment Management Ltd. reduced its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,732 shares of the restaurant operator’s stock after selling 219 shares during the period. M&G Investment Management Ltd.’s holdings in Restaurant Brands International were worth $10,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in QSR. Beutel Goodman & Co Ltd. purchased a new position in Restaurant Brands International during the fourth quarter valued at $222,862,000. Sowell Financial Services LLC lifted its position in Restaurant Brands International by 23.9% during the first quarter. Sowell Financial Services LLC now owns 2,354 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 454 shares in the last quarter. Alberta Investment Management Corp lifted its position in Restaurant Brands International by 40.8% during the first quarter. Alberta Investment Management Corp now owns 535,000 shares of the restaurant operator’s stock valued at $34,788,000 after purchasing an additional 155,000 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Restaurant Brands International by 3.5% in the fourth quarter. Stifel Financial Corp now owns 18,372 shares of the restaurant operator’s stock valued at $1,122,000 after acquiring an additional 614 shares in the last quarter. Finally, GYL Financial Synergies LLC purchased a new position in shares of Restaurant Brands International in the first quarter valued at about $515,000. Hedge funds and other institutional investors own 79.10% of the company’s stock.

In other Restaurant Brands International news, insider Sami A. Siddiqui sold 8,882 shares of the business’s stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $70.00, for a total transaction of $621,740.00. Following the completion of the transaction, the insider now owns 175,722 shares in the company, valued at $12,300,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Fernando Machado sold 121,061 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $64.01, for a total value of $7,749,114.61. Insiders have sold 462,602 shares of company stock worth $31,156,656 over the last three months. 3.69% of the stock is currently owned by insiders.

QSR has been the topic of several research analyst reports. Robert W. Baird restated a “neutral” rating on shares of Restaurant Brands International in a research report on Friday, May 7th. Morgan Stanley boosted their price objective on Restaurant Brands International from $66.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, May 3rd. Wells Fargo & Company boosted their price objective on Restaurant Brands International from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, March 23rd. Truist boosted their price objective on Restaurant Brands International from $70.00 to $80.00 in a research report on Monday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on Restaurant Brands International from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $71.59.

Shares of NYSE QSR opened at $67.86 on Friday. The stock’s 50 day moving average is $67.71. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 3.17. Restaurant Brands International Inc. has a 1-year low of $51.12 and a 1-year high of $71.12. The company has a market capitalization of $20.85 billion, a PE ratio of 39.92, a P/E/G ratio of 2.08 and a beta of 1.19.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Thursday, April 29th. The restaurant operator reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Restaurant Brands International had a return on equity of 25.25% and a net margin of 10.41%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Restaurant Brands International Inc. will post 2.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 23rd will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 22nd. This represents a $2.12 annualized dividend and a yield of 3.12%. Restaurant Brands International’s payout ratio is currently 104.43%.

About Restaurant Brands International

Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brands. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.

Further Reading: Real Estate Investment Trust (REIT) ETF

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Institutional Ownership by Quarter for Restaurant Brands International (NYSE:QSR)

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