Cullen Capital Management LLC Takes $128.35 Million Position in Restaurant Brands International Inc. $QSR

Cullen Capital Management LLC bought a new position in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) during the second quarter, HoldingsChannel reports. The fund bought 1,770,095 shares of the restaurant operator’s stock, valued at approximately $128,350,000.

A number of other institutional investors have also modified their holdings of QSR. D.A. Davidson & CO. boosted its stake in Restaurant Brands International by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 8,451 shares of the restaurant operator’s stock worth $577,000 after purchasing an additional 154 shares during the period. Capital Analysts LLC grew its position in Restaurant Brands International by 20.6% during the 4th quarter. Capital Analysts LLC now owns 924 shares of the restaurant operator’s stock worth $63,000 after purchasing an additional 158 shares during the last quarter. Private Advisor Group LLC increased its stake in Restaurant Brands International by 4.1% in the first quarter. Private Advisor Group LLC now owns 4,354 shares of the restaurant operator’s stock valued at $322,000 after purchasing an additional 170 shares during the period. Applied Finance Capital Management LLC increased its stake in Restaurant Brands International by 1.9% in the fourth quarter. Applied Finance Capital Management LLC now owns 9,440 shares of the restaurant operator’s stock valued at $644,000 after purchasing an additional 179 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Restaurant Brands International by 6.3% in the second quarter. Versant Capital Management Inc now owns 3,478 shares of the restaurant operator’s stock valued at $252,000 after buying an additional 207 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QSR. TD Cowen increased their target price on shares of Restaurant Brands International from $79.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Scotia dropped their price target on Restaurant Brands International from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research report on Friday, August 7th. Piper Sandler reduced their price objective on Restaurant Brands International from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Guggenheim increased their price objective on Restaurant Brands International from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley lifted their target price on Restaurant Brands International from $78.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.91.

Restaurant Brands International Stock Up 0.9%

Shares of NYSE QSR opened at $81.55 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 2.49. Restaurant Brands International Inc. has a 52 week low of $61.33 and a 52 week high of $81.96. The firm has a 50-day moving average price of $74.63 and a 200 day moving average price of $74.40. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.19 and a beta of 0.50.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Equities research analysts anticipate that Restaurant Brands International Inc. will post 4.03 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, September 18th. Restaurant Brands International’s payout ratio is presently 69.89%.

Restaurant Brands International Company Profile

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.