Bank of America Increases Restaurant Brands International (NYSE:QSR) Price Target to $77.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price objective increased by equities researchers at Bank of America from $76.00 to $77.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the restaurant operator’s stock. Bank of America‘s price objective would indicate a potential upside of 4.78% from the stock’s previous close.

A number of other equities analysts also recently weighed in on QSR. Piper Sandler lowered their target price on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on Restaurant Brands International from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Stifel Nicolaus cut their target price on Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Guggenheim raised their target price on Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, TD Cowen reissued a “buy” rating and issued a $82.00 price target on shares of Restaurant Brands International in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Restaurant Brands International currently has an average rating of “Moderate Buy” and an average target price of $83.15.

Restaurant Brands International Trading Up 1.9 %

NYSE QSR opened at $73.49 on Tuesday. The firm has a market capitalization of $23.28 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.12 and a beta of 0.94. The business’s 50-day moving average price is $70.37 and its two-hundred day moving average price is $70.67. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 2.71. Restaurant Brands International has a 12 month low of $64.97 and a 12 month high of $83.29.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 EPS for the quarter, beating the consensus estimate of $0.85 by $0.01. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. On average, analysts expect that Restaurant Brands International will post 3.37 EPS for the current year.

Insider Activity

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

Institutional Trading of Restaurant Brands International

Institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors grew its stake in Restaurant Brands International by 1.1% in the 1st quarter. Capital World Investors now owns 42,711,485 shares of the restaurant operator’s stock valued at $3,393,264,000 after purchasing an additional 466,929 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Restaurant Brands International by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 12,146,626 shares of the restaurant operator’s stock worth $965,049,000 after buying an additional 141,468 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in Restaurant Brands International by 4.9% during the second quarter. EdgePoint Investment Group Inc. now owns 11,520,634 shares of the restaurant operator’s stock valued at $811,907,000 after buying an additional 536,124 shares during the period. 1832 Asset Management L.P. increased its holdings in Restaurant Brands International by 15.6% during the second quarter. 1832 Asset Management L.P. now owns 5,732,531 shares of the restaurant operator’s stock worth $403,398,000 after buying an additional 773,783 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Restaurant Brands International by 10.3% during the second quarter. Mackenzie Financial Corp now owns 5,543,650 shares of the restaurant operator’s stock worth $390,678,000 after buying an additional 518,795 shares during the last quarter. 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.