Restaurant Brands International (NYSE:QSR) Price Target Raised to $87.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its target price raised by Truist Financial from $83.00 to $87.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other brokerages have also issued reports on QSR. Piper Sandler raised Restaurant Brands International from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $71.00 to $84.00 in a report on Monday. Barclays dropped their price target on Restaurant Brands International from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Argus upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, December 2nd. Guggenheim raised their target price on shares of Restaurant Brands International from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Sanford C. Bernstein set a $82.00 target price on shares of Restaurant Brands International in a report on Friday, February 13th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Restaurant Brands International currently has an average rating of “Moderate Buy” and an average price target of $78.95.

Restaurant Brands International Stock Down 1.0%

Shares of NYSE:QSR opened at $71.41 on Monday. The firm has a 50 day simple moving average of $68.72 and a 200-day simple moving average of $67.67. Restaurant Brands International has a twelve month low of $58.71 and a twelve month high of $73.70. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $24.74 billion, a PE ratio of 30.26, a P/E/G ratio of 2.05 and a beta of 0.56.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its 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. Restaurant Brands International had a net margin of 8.23% and a return on equity of 32.51%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Restaurant Brands International will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, March 19th will be issued a dividend of $0.65 per share. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, March 19th. Restaurant Brands International’s dividend payout ratio is 105.08%.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, CFO Sami A. Siddiqui sold 12,828 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $67.51, for a total value of $866,018.28. Following the transaction, the chief financial officer directly owned 31,923 shares of the company’s stock, valued at approximately $2,155,121.73. The trade was a 28.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Axel Schwan sold 34,939 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $67.51, for a total transaction of $2,358,731.89. Following the completion of the sale, the insider owned 194,984 shares of the company’s stock, valued at $13,163,369.84. This trade represents a 15.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 186,401 shares of company stock worth $12,857,069 over the last quarter. 1.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Restaurant Brands International

Several institutional investors and hedge funds have recently added to or reduced their stakes in QSR. Intact Investment Management Inc. increased its holdings in shares of Restaurant Brands International by 10.6% in the 3rd quarter. Intact Investment Management Inc. now owns 759,391 shares of the restaurant operator’s stock valued at $48,722,000 after purchasing an additional 72,800 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in Restaurant Brands International by 23,154.1% during the third quarter. Hillsdale Investment Management Inc. now owns 39,532 shares of the restaurant operator’s stock worth $2,535,000 after buying an additional 39,362 shares during the period. Machina Capital S.A.S. purchased a new position in Restaurant Brands International in the third quarter valued at about $1,214,000. New York State Common Retirement Fund lifted its position in shares of Restaurant Brands International by 51.4% during the 3rd quarter. New York State Common Retirement Fund now owns 196,100 shares of the restaurant operator’s stock valued at $12,578,000 after acquiring an additional 66,600 shares during the period. Finally, Cidel Asset Management Inc. lifted its position in shares of Restaurant Brands International by 2.8% during the 3rd quarter. Cidel Asset Management Inc. now owns 688,129 shares of the restaurant operator’s stock valued at $44,154,000 after acquiring an additional 18,446 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.