Gateway Investment Advisers LLC Sells 39,267 Shares of Restaurant Brands International Inc. (NYSE:QSR)

Gateway Investment Advisers LLC trimmed its stake in Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) by 30.7% in the second quarter, Holdings Channel reports. The firm owned 88,687 shares of the restaurant operator’s stock after selling 39,267 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Restaurant Brands International were worth $6,241,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QSR. Capital World Investors grew its holdings in Restaurant Brands International by 1.1% during the first quarter. Capital World Investors now owns 42,711,485 shares of the restaurant operator’s stock worth $3,393,264,000 after purchasing an additional 466,929 shares during the period. Capital Research Global Investors boosted its stake in shares of Restaurant Brands International by 19.8% during the 4th quarter. Capital Research Global Investors now owns 24,012,659 shares of the restaurant operator’s stock worth $1,876,109,000 after acquiring an additional 3,971,774 shares during the period. Vanguard Group Inc. increased its holdings in shares of Restaurant Brands International by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 12,146,626 shares of the restaurant operator’s stock worth $965,049,000 after acquiring an additional 141,468 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Restaurant Brands International by 6.2% during the 1st quarter. 1832 Asset Management L.P. now owns 4,958,748 shares of the restaurant operator’s stock valued at $393,973,000 after purchasing an additional 290,604 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Restaurant Brands International by 41.0% during the first quarter. TD Asset Management Inc now owns 4,847,985 shares of the restaurant operator’s stock worth $385,361,000 after purchasing an additional 1,409,552 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QSR. Piper Sandler reduced their target price on shares of Restaurant Brands International from $84.00 to $82.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Genuity Capital Markets lowered their target price on Restaurant Brands International from $74.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley reduced their price target on Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Bank of America lifted their target price on Restaurant Brands International from $72.00 to $79.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group started coverage on shares of Restaurant Brands International in a research note on Thursday, June 13th. They issued a “buy” rating and a $80.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Restaurant Brands International presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.48.

Restaurant Brands International Price Performance

Shares of NYSE QSR traded down $1.42 during midday trading on Friday, reaching $70.51. 1,652,602 shares of the company were exchanged, compared to its average volume of 1,635,205. Restaurant Brands International Inc. has a one year low of $61.77 and a one year high of $83.29. The stock’s 50-day moving average price is $70.19 and its 200-day moving average price is $73.54. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 2.72. The stock has a market cap of $22.34 billion, a P/E ratio of 18.17, a PEG ratio of 2.06 and a beta of 0.92.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, beating the consensus estimate of $0.85 by $0.01. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Restaurant Brands International had a return on equity of 31.12% and a net margin of 17.17%. On average, sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.37 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.32 annualized dividend and a dividend yield of 3.29%. Restaurant Brands International’s payout ratio is 59.79%.

Restaurant Brands International Company 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.