Restaurant Brands International (NYSE:QSR) Stock Gets Price Target Reduction from Royal Bank Of Canada

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its target price lowered by Royal Bank Of Canada from $80.00 to $79.00 in a report issued on Monday,BayStreet reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Restaurant Brands International from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Citigroup increased their price objective on shares of Restaurant Brands International from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Robert W. Baird increased their price objective on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. Jefferies Financial Group decreased their price objective on shares of Restaurant Brands International from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Finally, Scotiabank dropped their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.52.

Restaurant Brands International Price Performance

QSR stock opened at $74.19 on Monday. 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 has a 52-week low of $64.52 and a 52-week high of $81.96. The stock’s 50 day moving average is $75.11 and its two-hundred day moving average is $75.27. The company has a market capitalization of $25.87 billion, a PE ratio of 19.16, a P/E/G ratio of 2.02 and a beta of 0.52.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. Restaurant Brands International had a return on equity of 33.43% and a net margin of 13.12%. Restaurant Brands International’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. Analysts predict that Restaurant Brands International will post 4.19 earnings per share for the current fiscal year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, September 18th. Restaurant Brands International’s payout ratio is presently 69.89%.

Insider Buying and Selling

In other news, insider Axel Schwan sold 57,574 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $81.14, for a total transaction of $4,671,554.36. Following the completion of the transaction, the insider directly owned 209,908 shares of the company’s stock, valued at approximately $17,031,935.12. This represents a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by insiders.

Institutional Trading of Restaurant Brands International

Institutional investors and hedge funds have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. increased its position in Restaurant Brands International by 16.2% in the first quarter. EdgePoint Investment Group Inc. now owns 19,348,137 shares of the restaurant operator’s stock worth $1,432,015,000 after buying an additional 2,703,134 shares during the period. Bank of America Corp DE boosted its holdings in shares of Restaurant Brands International by 143.9% during the first quarter. Bank of America Corp DE now owns 4,932,662 shares of the restaurant operator’s stock valued at $364,524,000 after acquiring an additional 2,910,454 shares during the period. Canoe Financial LP boosted its holdings in shares of Restaurant Brands International by 34.5% during the first quarter. Canoe Financial LP now owns 3,348,043 shares of the restaurant operator’s stock valued at $247,664,000 after acquiring an additional 858,490 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in shares of Restaurant Brands International by 4.4% during the third quarter. TD Waterhouse Canada Inc. now owns 2,583,329 shares of the restaurant operator’s stock valued at $180,116,000 after acquiring an additional 109,723 shares during the period. Finally, London Co. of Virginia bought a new position in shares of Restaurant Brands International during the first quarter worth about $147,967,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

About Restaurant Brands International

Restaurant Brands International Inc (NYSE:QSR) is a global quick-service restaurant company that owns and operates a portfolio of restaurant brands, primarily through franchised and licensed locations. Its brands include Tim Hortons, Burger King, Popeyes and Firehouse Subs, which serve coffee, baked goods, burgers, chicken, sandwiches and other prepared foods.

The company was formed in 2014 through the merger of Burger King Worldwide and Tim Hortons. RBI expanded its portfolio through the acquisition of Popeyes Louisiana Kitchen in 2017 and Firehouse Restaurant Group in 2021.