Bank of New York Mellon Corp Cuts Holdings in Restaurant Brands International Inc. (NYSE:QSR)

Bank of New York Mellon Corp cut its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 73.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 356,126 shares of the restaurant operator’s stock after selling 975,266 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.11% of Restaurant Brands International worth $23,732,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its position in Restaurant Brands International by 5.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,899 shares of the restaurant operator’s stock valued at $319,000 after purchasing an additional 233 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Restaurant Brands International by 2.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,103 shares of the restaurant operator’s stock worth $919,000 after purchasing an additional 313 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Restaurant Brands International by 166.4% in the fourth quarter. Corient Private Wealth LLC now owns 20,475 shares of the restaurant operator’s stock valued at $1,335,000 after buying an additional 12,789 shares in the last quarter. Signaturefd LLC raised its stake in Restaurant Brands International by 3.2% during the 4th quarter. Signaturefd LLC now owns 6,687 shares of the restaurant operator’s stock valued at $436,000 after purchasing an additional 210 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in shares of Restaurant Brands International in the fourth quarter worth $586,000. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Loop Capital reiterated a “buy” rating on shares of Restaurant Brands International in a research note on Thursday, June 26th. UBS Group reduced their price target on shares of Restaurant Brands International from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Citigroup dropped their price objective on shares of Restaurant Brands International from $67.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company lowered their price objective on shares of Restaurant Brands International from $69.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reduced their target price on shares of Restaurant Brands International from $73.00 to $72.00 and set an “equal weight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.39.

Restaurant Brands International Price Performance

QSR stock opened at $69.60 on Friday. The stock has a 50-day moving average price of $68.56 and a two-hundred day moving average price of $65.75. The company has a market cap of $22.81 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.58. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $74.79. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 2.84.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.17 billion. Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. Restaurant Brands International’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company posted $0.73 EPS. As a group, research analysts predict that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 24th were paid a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.48 annualized dividend and a dividend yield of 3.56%. Restaurant Brands International’s dividend payout ratio is currently 84.07%.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $70.08, for a total transaction of $4,905,600.00. Following the completion of the transaction, the insider owned 182,897 shares in the company, valued at approximately $12,817,421.76. This represents a 27.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.36% of the company’s stock.

Restaurant Brands International Profile

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.