Harvest Portfolios Group Inc. Acquires 3,613 Shares of Restaurant Brands International Inc. $QSR

Harvest Portfolios Group Inc. grew its holdings in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 8.0% during the second quarter, HoldingsChannel.com reports. The firm owned 48,906 shares of the restaurant operator’s stock after acquiring an additional 3,613 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Restaurant Brands International were worth $3,244,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in QSR. Royal Bank of Canada grew its holdings in shares of Restaurant Brands International by 16.7% in the first quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator’s stock worth $1,507,839,000 after purchasing an additional 3,230,735 shares during the last quarter. Vanguard Group Inc. boosted its position in Restaurant Brands International by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 14,169,061 shares of the restaurant operator’s stock valued at $944,538,000 after buying an additional 1,003,563 shares during the period. EdgePoint Investment Group Inc. grew its stake in Restaurant Brands International by 7.0% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,715,604 shares of the restaurant operator’s stock worth $914,463,000 after acquiring an additional 896,034 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Restaurant Brands International by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,108,527 shares of the restaurant operator’s stock worth $540,352,000 after acquiring an additional 47,192 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Restaurant Brands International by 4.3% during the first quarter. 1832 Asset Management L.P. now owns 6,959,757 shares of the restaurant operator’s stock worth $463,798,000 after acquiring an additional 289,233 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Restaurant Brands International Trading Down 0.6%

Restaurant Brands International stock opened at $67.72 on Friday. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.71 and a beta of 0.63. Restaurant Brands International Inc. has a 52 week low of $58.71 and a 52 week high of $72.32. The stock has a 50-day moving average price of $65.61 and a 200 day moving average price of $66.78. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 2.65.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings data on Thursday, October 30th. The restaurant operator reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.03. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Restaurant Brands International had a return on equity of 32.43% and a net margin of 9.95%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. Sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 23rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, December 23rd. Restaurant Brands International’s dividend payout ratio is currently 88.26%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on QSR shares. Argus lowered Restaurant Brands International from a “buy” rating to a “hold” rating in a report on Friday, August 15th. Morgan Stanley set a $77.00 target price on Restaurant Brands International in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Restaurant Brands International in a research report on Wednesday, October 8th. Scotiabank raised their price target on Restaurant Brands International from $73.00 to $74.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. Finally, Northcoast Research downgraded Restaurant Brands International from a “buy” rating to a “neutral” rating in a report on Friday, September 12th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.76.

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.