Alta Capital Management LLC Reduces Position in Restaurant Brands International Inc. (NYSE:QSR)

Alta Capital Management LLC cut its holdings in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 70.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,854 shares of the restaurant operator’s stock after selling 326,110 shares during the period. Alta Capital Management LLC’s holdings in Restaurant Brands International were worth $9,320,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of QSR. Dunhill Financial LLC boosted its position in shares of Restaurant Brands International by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 400 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Restaurant Brands International by 213.6% in the fourth quarter. Venturi Wealth Management LLC now owns 461 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 314 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Restaurant Brands International in the fourth quarter worth about $32,000. IFP Advisors Inc boosted its position in Restaurant Brands International by 183.9% in the fourth quarter. IFP Advisors Inc now owns 636 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 412 shares during the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new position in Restaurant Brands International in the fourth quarter worth about $60,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

Restaurant Brands International Stock Down 1.0%

Shares of QSR opened at $66.09 on Friday. The business’s 50 day moving average is $67.41 and its 200 day moving average is $65.83. The company has a market capitalization of $21.66 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. Restaurant Brands International Inc. has a 12-month low of $58.71 and a 12-month high of $75.07. 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 issued its earnings results on Thursday, May 8th. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.17 billion. Restaurant Brands International had a net margin of 10.82% and a return on equity of 28.94%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the business posted $0.73 EPS. Research analysts expect that Restaurant Brands International Inc. will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, June 24th. Restaurant Brands International’s dividend payout ratio (DPR) is presently 84.07%.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of Restaurant Brands International stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $70.08, for a total value of $4,905,600.00. Following the sale, the insider now owns 182,897 shares of the company’s stock, valued at $12,817,421.76. The trade was a 27.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on QSR shares. Loop Capital reissued a “buy” rating on shares of Restaurant Brands International in a research report on Tuesday, March 18th. Argus raised Restaurant Brands International from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Citigroup dropped their target price on Restaurant Brands International from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley raised their target price on Restaurant Brands International from $72.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Finally, CIBC dropped their target price on Restaurant Brands International from $78.00 to $77.00 and set an “outperformer” rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Restaurant Brands International presently has a consensus rating of “Hold” and a consensus price target of $75.68.

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.