Restaurant Brands International Inc. (QSR) Stake Held by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. held its position in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,298,628 shares of the restaurant operator’s stock at the close of the second quarter. Restaurant Brands International accounts for 1.3% of EdgePoint Investment Group Inc.’s holdings, making the stock its 21st largest position. EdgePoint Investment Group Inc. owned approximately 0.55% of Restaurant Brands International worth $81,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Westpac Banking Corp grew its holdings in Restaurant Brands International by 1,037.1% during the first quarter. Westpac Banking Corp now owns 1,933 shares of the restaurant operator’s stock worth $108,000 after purchasing an additional 1,763 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Restaurant Brands International by 10.2% during the second quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock worth $135,000 after purchasing an additional 200 shares during the period. Commonwealth Bank of Australia grew its holdings in Restaurant Brands International by 9.0% during the second quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock worth $197,000 after purchasing an additional 261 shares during the period. PNC Financial Services Group Inc. grew its holdings in Restaurant Brands International by 10.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock worth $179,000 after purchasing an additional 306 shares during the period. Finally, Cigna Investments Inc. New bought a new position in Restaurant Brands International during the second quarter worth about $211,000. Institutional investors and hedge funds own 76.68% of the company’s stock.

QSR has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Tuesday, August 29th. Credit Suisse Group upgraded Restaurant Brands International from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $74.00 in a report on Thursday, September 7th. BMO Capital Markets lifted their price target on Restaurant Brands International from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. UBS AG set a $68.00 price target on Restaurant Brands International and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $69.00 price target on shares of Restaurant Brands International in a report on Monday, September 11th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.69.

Shares of Restaurant Brands International Inc. (QSR) traded down 0.24% during midday trading on Friday, reaching $63.02. 1,646,667 shares of the company’s stock traded hands. The firm has a market cap of $14.89 billion, a PE ratio of 44.10 and a beta of 1.77. Restaurant Brands International Inc. has a 12 month low of $42.35 and a 12 month high of $64.97. The stock has a 50-day moving average price of $61.23 and a 200 day moving average price of $59.10.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that Restaurant Brands International Inc. will post $1.89 earnings per share for the current year.

Restaurant Brands International declared that its board has authorized a share buyback plan on Wednesday, August 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be given a dividend of $0.20 per share. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 14th. Restaurant Brands International’s dividend payout ratio is currently 55.56%.

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In related news, Director Ali Hedayat bought 5,000 shares of Restaurant Brands International stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $61.32 per share, with a total value of $306,600.00. Following the transaction, the director now directly owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by corporate insiders.

About Restaurant Brands International

Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.

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

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