Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stock Holdings in Restaurant Brands International Inc. $QSR

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 4.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,722 shares of the restaurant operator’s stock after selling 451 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Restaurant Brands International were worth $578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HM Payson & Co. purchased a new position in shares of Restaurant Brands International in the 1st quarter worth approximately $26,000. Private Trust Co. NA grew its position in shares of Restaurant Brands International by 96.6% in the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator’s stock worth $35,000 after buying an additional 255 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Restaurant Brands International by 91.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 545 shares of the restaurant operator’s stock worth $35,000 after buying an additional 260 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Restaurant Brands International by 438.6% in the 1st quarter. Larson Financial Group LLC now owns 781 shares of the restaurant operator’s stock worth $52,000 after buying an additional 636 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Restaurant Brands International in the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Restaurant Brands International Stock Up 1.3%

QSR stock opened at $64.62 on Tuesday. The firm has a 50 day moving average of $65.50 and a 200 day moving average of $66.37. The stock has a market capitalization of $21.18 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.75 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 2.69. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $74.09.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, August 7th. The restaurant operator reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.03). The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.33 billion. Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. Sell-side analysts forecast that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 23rd. Restaurant Brands International’s payout ratio is presently 93.94%.

Wall Street Analyst Weigh In

QSR has been the topic of a number of analyst reports. Morgan Stanley cut their price objective on shares of Restaurant Brands International from $73.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Monday, July 14th. Loop Capital reaffirmed a “buy” rating on shares of Restaurant Brands International in a research report on Thursday, June 26th. Barclays cut their price objective on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada cut their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, Truist Financial lifted their price objective on shares of Restaurant Brands International from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $75.04.

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.