Freestone Capital Holdings LLC Decreases Position in Restaurant Brands International Inc (QSR)

Freestone Capital Holdings LLC trimmed its position in shares of Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) by 20.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,565 shares of the restaurant operator’s stock after selling 14,698 shares during the period. Freestone Capital Holdings LLC’s holdings in Restaurant Brands International were worth $3,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QSR. CIBC Asset Management Inc raised its holdings in shares of Restaurant Brands International by 413.4% during the 1st quarter. CIBC Asset Management Inc now owns 2,854,786 shares of the restaurant operator’s stock valued at $185,724,000 after buying an additional 2,298,691 shares in the last quarter. Norges Bank purchased a new position in shares of Restaurant Brands International during the 4th quarter valued at about $97,047,000. Bank of Montreal Can raised its holdings in shares of Restaurant Brands International by 16.6% during the 1st quarter. Bank of Montreal Can now owns 5,998,387 shares of the restaurant operator’s stock valued at $390,557,000 after buying an additional 852,636 shares in the last quarter. Samlyn Capital LLC raised its holdings in shares of Restaurant Brands International by 106.3% during the 4th quarter. Samlyn Capital LLC now owns 1,374,113 shares of the restaurant operator’s stock valued at $71,867,000 after buying an additional 708,183 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Restaurant Brands International by 317.4% during the 4th quarter. Mackenzie Financial Corp now owns 725,250 shares of the restaurant operator’s stock valued at $37,931,000 after buying an additional 551,499 shares in the last quarter. 81.47% of the stock is currently owned by institutional investors.

A number of equities analysts recently weighed in on QSR shares. Wells Fargo & Co raised their price objective on Restaurant Brands International from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Zacks Investment Research lowered Restaurant Brands International from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Barclays initiated coverage on Restaurant Brands International in a research report on Friday, March 8th. They set an “overweight” rating and a $61.27 price target on the stock. Sanford C. Bernstein initiated coverage on Restaurant Brands International in a research report on Friday, April 5th. They set an “outperform” rating on the stock. Finally, KeyCorp raised their price target on Restaurant Brands International from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $69.83.

NYSE QSR opened at $68.56 on Friday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 1.04 and a current ratio of 1.10. Restaurant Brands International Inc has a twelve month low of $50.20 and a twelve month high of $69.26. The company has a market cap of $17.45 billion, a P/E ratio of 26.07, a PEG ratio of 2.75 and a beta of 1.39.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Monday, April 29th. The restaurant operator reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.04). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Restaurant Brands International had a net margin of 11.16% and a return on equity of 29.58%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. Research analysts predict that Restaurant Brands International Inc will post 2.67 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Monday, June 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, June 14th. Restaurant Brands International’s payout ratio is 76.05%.

In other news, insider Jill Granat sold 35,621 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $62.30, for a total value of $2,219,188.30. Following the completion of the transaction, the insider now owns 276,457 shares in the company, valued at $17,223,271.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel S. Schwartz sold 1,041,882 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $67.88, for a total value of $70,722,950.16. Following the completion of the transaction, the insider now owns 461,637 shares of the company’s stock, valued at approximately $31,335,919.56. The disclosure for this sale can be found here. Insiders have sold 1,177,503 shares of company stock valued at $79,145,138 in the last quarter. 3.78% of the stock is owned by company insiders.

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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.

See Also: Fundamental Analysis

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

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