Mackenzie Financial Corp Buys 717,867 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Mackenzie Financial Corp grew its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,912,807 shares of the restaurant operator’s stock after buying an additional 717,867 shares during the period. Mackenzie Financial Corp’s holdings in Restaurant Brands International were worth $327,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of QSR. Norges Bank bought a new stake in shares of Restaurant Brands International during the fourth quarter valued at about $264,813,000. Meritage Group LP increased its position in shares of Restaurant Brands International by 5,795.9% in the fourth quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator’s stock worth $215,204,000 after purchasing an additional 3,245,689 shares during the last quarter. Baupost Group LLC MA increased its position in shares of Restaurant Brands International by 10,155.5% in the fourth quarter. Baupost Group LLC MA now owns 2,901,700 shares of the restaurant operator’s stock worth $189,133,000 after purchasing an additional 2,873,406 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Restaurant Brands International by 26.6% in the fourth quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator’s stock worth $834,478,000 after purchasing an additional 2,695,071 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Restaurant Brands International by 29.4% in the first quarter. TD Asset Management Inc now owns 4,631,461 shares of the restaurant operator’s stock worth $308,698,000 after purchasing an additional 1,053,640 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.

Restaurant Brands International Stock Down 0.7%

Shares of Restaurant Brands International stock opened at $69.52 on Monday. The company’s 50 day moving average price is $68.72 and its 200-day moving average price is $66.02. Restaurant Brands International Inc. has a 52-week low of $58.71 and a 52-week high of $74.09. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 2.17 and a beta of 0.58. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.90 and a current ratio of 0.96.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Restaurant Brands International had a return on equity of 28.94% and a net margin of 10.82%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the business earned $0.73 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. Equities research analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current year.

Restaurant Brands International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 24th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Tuesday, June 24th. Restaurant Brands International’s dividend payout ratio (DPR) is presently 84.07%.

Wall Street Analyst Weigh In

QSR has been the topic of several research analyst reports. Scotiabank upgraded shares of Restaurant Brands International to a “hold” rating and set a $75.00 price objective on the stock in a research report on Wednesday, June 18th. Morgan Stanley decreased their price objective on shares of Restaurant Brands International from $73.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Monday, July 14th. Citigroup decreased their price objective on shares of 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. Truist Financial upped their price objective on shares of Restaurant Brands International from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Loop Capital restated a “buy” rating on shares of Restaurant Brands International in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Restaurant Brands International presently has a consensus rating of “Hold” and an average target price of $75.65.

Insider Activity

In other news, insider Jacqueline Friesner sold 70,000 shares of Restaurant Brands International stock in a transaction dated 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 completion of the transaction, the insider owned 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is currently owned by corporate insiders.

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.