Restaurant Brands International (NYSE:QSR) Given New $83.00 Price Target at Truist Financial

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price target cut by equities research analysts at Truist Financial from $85.00 to $83.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price would suggest a potential upside of 28.61% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays decreased their price target on shares of Restaurant Brands International from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus decreased their price objective on shares of Restaurant Brands International from $72.00 to $68.00 and set a “hold” rating for the company in a report on Friday, January 10th. KeyCorp cut their price objective on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. CIBC cut their price objective on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating on the stock in a research note on Wednesday, November 6th. Finally, Morgan Stanley cut their price objective on shares of Restaurant Brands International from $81.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.96.

Restaurant Brands International Trading Down 2.8 %

QSR opened at $64.53 on Thursday. The firm has a market capitalization of $20.94 billion, a P/E ratio of 16.17, a P/E/G ratio of 2.17 and a beta of 0.93. The firm’s 50 day moving average is $64.33 and its 200-day moving average is $68.07. Restaurant Brands International has a 52-week low of $59.67 and a 52-week high of $83.29. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Wednesday, February 12th. The restaurant operator reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.29). Restaurant Brands International had a net margin of 16.01% and a return on equity of 28.25%. Analysts expect that Restaurant Brands International will post 3.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sami A. Siddiqui sold 5,579 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $358,171.80. Following the transaction, the chief financial officer now owns 27,266 shares in the company, valued at $1,750,477.20. This represents a 16.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Granat sold 81,387 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $69.37, for a total value of $5,645,816.19. Following the completion of the transaction, the insider now owns 388,759 shares in the company, valued at $26,968,211.83. This represents a 17.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,510 shares of company stock worth $7,774,020. Company insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Restaurant Brands International

A number of large investors have recently made changes to their positions in QSR. Norges Bank acquired a new position in Restaurant Brands International in the fourth quarter worth approximately $264,813,000. Meritage Group LP increased its holdings in Restaurant Brands International by 5,795.9% in the fourth quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator’s stock worth $215,204,000 after buying an additional 3,245,689 shares during the last quarter. Baupost Group LLC MA increased its holdings in Restaurant Brands International by 10,155.5% in the fourth quarter. Baupost Group LLC MA now owns 2,901,700 shares of the restaurant operator’s stock worth $189,133,000 after buying an additional 2,873,406 shares during the last quarter. National Bank of Canada FI increased its holdings in Restaurant Brands International by 68.6% in the third quarter. National Bank of Canada FI now owns 3,181,459 shares of the restaurant operator’s stock worth $229,545,000 after buying an additional 1,294,185 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in Restaurant Brands International in the third quarter worth approximately $89,790,000. Institutional investors and hedge funds own 82.29% of the company’s stock.

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.