Envestnet Asset Management Inc. Trims Stock Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Envestnet Asset Management Inc. lowered its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 455,205 shares of the restaurant operator’s stock after selling 48,468 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of Restaurant Brands International worth $30,335,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Capital World Investors boosted its holdings in shares of Restaurant Brands International by 2.0% in the fourth quarter. Capital World Investors now owns 43,418,188 shares of the restaurant operator’s stock valued at $2,829,974,000 after purchasing an additional 841,167 shares during the period. Vanguard Group Inc. raised its position in Restaurant Brands International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 13,165,498 shares of the restaurant operator’s stock valued at $858,101,000 after purchasing an additional 421,873 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Restaurant Brands International by 26.6% in the 4th quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator’s stock worth $834,478,000 after buying an additional 2,695,071 shares during the period. Norges Bank purchased a new stake in shares of Restaurant Brands International in the 4th quarter worth $264,813,000. Finally, Meritage Group LP grew its position in shares of Restaurant Brands International by 5,795.9% during the 4th quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator’s stock worth $215,204,000 after buying an additional 3,245,689 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Price Performance

Shares of QSR opened at $67.27 on Tuesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.96 and a quick ratio of 0.90. The company’s fifty day moving average price is $68.54 and its 200-day moving average price is $65.69. Restaurant Brands International Inc. has a 1-year low of $58.71 and a 1-year high of $75.07. The firm has a market capitalization of $22.05 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.99 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts predict that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th were issued a $0.62 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $2.48 annualized dividend and a yield of 3.69%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 84.07%.

Insider Transactions at Restaurant Brands International

In other news, insider Jacqueline Friesner sold 70,000 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $70.08, for a total value of $4,905,600.00. Following the sale, the insider directly owned 182,897 shares of the company’s stock, valued at $12,817,421.76. This represents a 27.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

QSR has been the subject of a number of research reports. Melius started coverage on shares of Restaurant Brands International in a research note on Monday. They issued a “buy” rating and a $90.00 price objective for the company. Oppenheimer upped their price target on shares of Restaurant Brands International from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 27th. UBS Group cut their price objective on shares of Restaurant Brands International from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their target price on Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, Citigroup dropped their target price on Restaurant Brands International from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.39.

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.