Restaurant Brands International Inc (QSR) Shares Sold by Korea Investment CORP

Korea Investment CORP trimmed its holdings in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 38.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,443 shares of the restaurant operator’s stock after selling 23,100 shares during the quarter. Korea Investment CORP’s holdings in Restaurant Brands International were worth $2,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QSR. Hound Partners LLC raised its position in shares of Restaurant Brands International by 71.8% during the 1st quarter. Hound Partners LLC now owns 5,036,214 shares of the restaurant operator’s stock valued at $286,661,000 after buying an additional 2,105,381 shares in the last quarter. Burgundy Asset Management Ltd. bought a new position in Restaurant Brands International during the 2nd quarter valued at about $100,942,000. Millennium Management LLC grew its holdings in Restaurant Brands International by 39.4% during the 1st quarter. Millennium Management LLC now owns 4,857,056 shares of the restaurant operator’s stock valued at $276,464,000 after purchasing an additional 1,373,701 shares during the last quarter. Standard Life Aberdeen plc grew its holdings in Restaurant Brands International by 2,821.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 1,212,197 shares of the restaurant operator’s stock valued at $73,083,000 after purchasing an additional 1,170,700 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Restaurant Brands International by 1,185.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,259,209 shares of the restaurant operator’s stock worth $75,930,000 after acquiring an additional 1,161,250 shares in the last quarter. Hedge funds and other institutional investors own 79.32% of the company’s stock.

NYSE QSR opened at $57.93 on Tuesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.24 and a quick ratio of 1.17. Restaurant Brands International Inc has a 12-month low of $53.09 and a 12-month high of $68.89. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.58 and a beta of 1.40.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Wednesday, August 1st. The restaurant operator reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Restaurant Brands International had a net margin of 13.68% and a return on equity of 28.10%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that Restaurant Brands International Inc will post 2.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, September 6th. This represents a $1.80 annualized dividend and a dividend yield of 3.11%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 85.71%.

QSR has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Restaurant Brands International from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Citigroup upped their target price on shares of Restaurant Brands International from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Scotiabank reiterated a “buy” rating and set a $70.00 price objective on shares of Restaurant Brands International in a research note on Thursday, August 2nd. Bank of America increased their price objective on shares of Restaurant Brands International from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, August 2nd. Finally, Robert W. Baird began coverage on shares of Restaurant Brands International in a research note on Friday, September 21st. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. Restaurant Brands International presently has a consensus rating of “Buy” and an average price target of $71.06.

Restaurant Brands International Company Profile

Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. 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: Penny Stocks

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

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