Citigroup Boosts Restaurant Brands International (NYSE:QSR) Price Target to $77.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price objective hoisted by Citigroup from $75.00 to $77.00 in a research note released on Wednesday morning, BayStreet.CA reports. Citigroup currently has a neutral rating on the restaurant operator’s stock.

QSR has been the subject of several other reports. TD Cowen restated a “buy” rating and set a $82.00 price objective on shares of Restaurant Brands International in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target 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. Morgan Stanley decreased their price objective on Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Guggenheim raised their target price on Restaurant Brands International from $73.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Piper Sandler reduced their price target on Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.35.

Restaurant Brands International Price Performance

NYSE QSR opened at $70.55 on Wednesday. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.12 and a beta of 0.94. 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 stock’s fifty day moving average price is $70.22 and its 200 day moving average price is $70.72. Restaurant Brands International has a 1 year low of $64.35 and a 1 year high of $83.29.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.05 billion. As a group, equities research analysts forecast that Restaurant Brands International will post 3.37 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $2.32 dividend on an annualized basis and a yield of 3.29%. Restaurant Brands International’s payout ratio is 59.79%.

Insider Activity at Restaurant Brands International

In related news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $70.44, for a total value of $2,535,840.00. Following the transaction, the insider now directly owns 97,479 shares in the company, valued at approximately $6,866,420.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 37,179 shares of the company’s stock, valued at $2,551,594.77. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Restaurant Brands International by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 12,005,158 shares of the restaurant operator’s stock valued at $937,963,000 after acquiring an additional 224,111 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Restaurant Brands International by 163.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,703 shares of the restaurant operator’s stock valued at $1,305,000 after purchasing an additional 10,355 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of Restaurant Brands International in the fourth quarter valued at approximately $269,000. Mather Group LLC. purchased a new stake in Restaurant Brands International during the 1st quarter worth approximately $25,000. Finally, Gunderson Capital Management Inc. lifted its holdings in Restaurant Brands International by 26.1% during the 1st quarter. Gunderson Capital Management Inc. now owns 141,771 shares of the restaurant operator’s stock worth $11,264,000 after buying an additional 29,355 shares in the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Restaurant Brands International Company Profile

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.