Although he’s a hamburger-and-soda-type boy, Warren Buffett probably won’t be spotted on a Burger King anytime soon. A regulation filed Thursday night by the legendary financier’s investment fund Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) proved that it had sold its stake in Restaurant Brands International (NYSE: QSR), the owner of the fast food chain.
Berkshire Hathaway is required to provide quarterly updates to the Securities and Exchange Commission (SEC) on its portfolio of publicly traded companies. These reports are closely scrutinized by many investors and can often affect feelings of a stock, depending on whether Berkshire adds more of it to its holdings, reduces its stake or keeps the level.
Image Source: The Motley Fool.
While this makes it easy for the public to follow changes in the portfolio, the reasons and reasons for moving Berkshire into a stock are often mysterious. Neither the company nor Buffett, its longtime CEO, immediately revealed their motivations.
Like many investors, Buffett can generally give souring to foodies, given the hammering they took during the pandemic. However, Restaurant Brands International did not do badly, considering everything. It has managed to bring its revenue back to about 90% of the sales levels it had before the outbreak spread around the world. By the end of the company’s second quarter, 93% of its restaurants were open for takeout and delivery at least.
Maybe that’s why investors’ refurbished Buffett’s waste disposal plant on Friday. The shares of Restaurant Brands International ticked the day by 0.1%. Meanwhile, both classes of Berkshire stock market fell marginally.
