Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) had its price target increased by equities researchers at JPMorgan Chase & Co. from $77.00 to $80.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.28% from the stock’s current price.
Other analysts also recently issued research reports about the stock. BMO Capital Markets dropped their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Oppenheimer boosted their price objective on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. Wells Fargo & Company raised their target price on Restaurant Brands International from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Citigroup boosted their price target on Restaurant Brands International from $76.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, TD Cowen raised their price objective on Restaurant Brands International from $72.00 to $76.00 and gave the stock a “hold” rating in a research note on Tuesday, April 14th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.39.
Restaurant Brands International Stock Down 0.2%
Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last released its quarterly earnings results on Thursday, February 12th. The restaurant operator reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Restaurant Brands International had a return on equity of 32.51% and a net margin of 8.23%.The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. As a group, sell-side analysts anticipate that Restaurant Brands International will post 4.05 earnings per share for the current year.
Insider Activity at Restaurant Brands International
In other Restaurant Brands International news, CEO Joshua Kobza sold 200,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $75.05, for a total value of $15,010,000.00. Following the completion of the sale, the chief executive officer owned 960,769 shares of the company’s stock, valued at $72,105,713.45. The trade was a 17.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Axel Schwan sold 34,939 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $67.51, for a total value of $2,358,731.89. Following the sale, the insider owned 194,984 shares of the company’s stock, valued at approximately $13,163,369.84. This trade represents a 15.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 441,490 shares of company stock valued at $32,375,140. Insiders own 1.25% of the company’s stock.
Hedge Funds Weigh In On Restaurant Brands International
Several hedge funds and other institutional investors have recently added to or reduced their stakes in QSR. Lloyd Advisory Services LLC. acquired a new stake in shares of Restaurant Brands International in the fourth quarter worth $25,000. Larson Financial Group LLC boosted its holdings in shares of Restaurant Brands International by 1,922.2% during the 4th quarter. Larson Financial Group LLC now owns 364 shares of the restaurant operator’s stock worth $25,000 after buying an additional 346 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in Restaurant Brands International in the 3rd quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Restaurant Brands International in the 4th quarter worth $29,000. Finally, UMB Bank n.a. raised its holdings in Restaurant Brands International by 50.4% in the 4th quarter. UMB Bank n.a. now owns 639 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.
About Restaurant Brands International
Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.
RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.
Further Reading
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