Restaurant Brands International (NYSE:QSR) Price Target Lowered to $78.00 at KeyCorp

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price target cut by KeyCorp from $80.00 to $78.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

QSR has been the subject of several other reports. Stifel Nicolaus cut their target price on Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Piper Sandler reduced their price target on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada raised their target price on shares of Restaurant Brands International from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Citigroup increased their price target on Restaurant Brands International from $75.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Truist Financial reduced their price objective on Restaurant Brands International from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.65.

Restaurant Brands International Stock Performance

Restaurant Brands International stock traded up $0.93 during midday trading on Wednesday, hitting $69.19. The company’s stock had a trading volume of 143,537 shares, compared to its average volume of 1,578,495. The company has a 50-day moving average price of $70.23 and a two-hundred day moving average price of $70.54. Restaurant Brands International has a 1-year low of $65.87 and a 1-year high of $83.29. The company has a debt-to-equity ratio of 2.71, a current ratio of 0.78 and a quick ratio of 0.71. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.09 and a beta of 0.94.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.01. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. As a group, sell-side analysts predict that Restaurant Brands International will post 3.37 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, December 20th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 58.15%.

Insider Buying and Selling at Restaurant Brands International

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the transaction, the insider now directly owns 37,179 shares of the company’s stock, valued at $2,551,594.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Axel Mr Schwan sold 36,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $70.44, for a total value of $2,535,840.00. Following the completion of the sale, the insider now directly owns 97,479 shares of the company’s stock, valued at $6,866,420.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total value of $448,565.68. Following the completion of the transaction, the insider now owns 37,179 shares in the company, valued at $2,551,594.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Restaurant Brands International

A number of hedge funds have recently bought and sold shares of QSR. Swiss National Bank grew its holdings in shares of Restaurant Brands International by 1.0% in the third quarter. Swiss National Bank now owns 909,030 shares of the restaurant operator’s stock valued at $65,698,000 after acquiring an additional 9,100 shares in the last quarter. Natixis Advisors LLC grew its stake in Restaurant Brands International by 4.4% in the 3rd quarter. Natixis Advisors LLC now owns 54,726 shares of the restaurant operator’s stock valued at $3,947,000 after purchasing an additional 2,292 shares during the period. CIBC Asset Management Inc grew its stake in Restaurant Brands International by 4.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,969,582 shares of the restaurant operator’s stock valued at $215,448,000 after purchasing an additional 118,721 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Restaurant Brands International during the 3rd quarter valued at $61,000. Finally, MQS Management LLC bought a new stake in shares of Restaurant Brands International during the 3rd quarter worth $402,000. 82.29% of the stock is owned by hedge funds and other institutional investors.

About Restaurant Brands International

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.