Envestnet Portfolio Solutions Inc. Trims Position in Restaurant Brands International Inc. $QSR

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 6.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,001 shares of the restaurant operator’s stock after selling 345 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Restaurant Brands International were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Restaurant Brands International by 55.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,857 shares of the restaurant operator’s stock worth $4,759,000 after acquiring an additional 25,292 shares during the period. Aviso Financial Inc. increased its position in shares of Restaurant Brands International by 1.2% during the 1st quarter. Aviso Financial Inc. now owns 953,186 shares of the restaurant operator’s stock worth $63,566,000 after purchasing an additional 11,164 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Restaurant Brands International during the 1st quarter worth about $432,000. Private Trust Co. NA increased its position in shares of Restaurant Brands International by 96.6% during the 1st quarter. Private Trust Co. NA now owns 519 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 255 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Restaurant Brands International by 90.9% during the 1st quarter. Raymond James Financial Inc. now owns 563,747 shares of the restaurant operator’s stock worth $37,568,000 after purchasing an additional 268,511 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

QSR has been the subject of a number of recent analyst reports. Northcoast Research downgraded Restaurant Brands International from a “buy” rating to a “neutral” rating in a research report on Friday, September 12th. Citigroup raised their price objective on Restaurant Brands International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Sanford C. Bernstein set a $78.00 price objective on Restaurant Brands International in a research report on Friday, August 8th. Morgan Stanley set a $77.00 price objective on Restaurant Brands International in a research report on Tuesday. Finally, Piper Sandler dropped their target price on Restaurant Brands International from $72.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.42.

Restaurant Brands International Stock Performance

Shares of Restaurant Brands International stock opened at $67.50 on Friday. Restaurant Brands International Inc. has a one year low of $58.71 and a one year high of $73.71. The company has a market cap of $22.13 billion, a PE ratio of 25.57, a P/E/G ratio of 2.95 and a beta of 0.65. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.95 and a current ratio of 1.01. The business has a 50-day simple moving average of $64.97 and a 200-day simple moving average of $66.38.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.03). Restaurant Brands International had a return on equity of 29.54% and a net margin of 9.43%.The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Restaurant Brands International Inc. will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 23rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.7%. Restaurant Brands International’s payout ratio is currently 93.94%.

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.