Restaurant Brands International (NYSE:QSR) Hits New 12-Month High After Analyst Upgrade

Posted by Defense World Staff on Jul 18th, 2023

Restaurant Brands International Inc. (NYSE:QSR – Get Free Report) (TSE:QSR)’s share price reached a new 52-week high during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $74.00 to $76.00. Morgan Stanley currently has an equal weight rating on the stock. Restaurant Brands International traded as high as $77.90 and last traded at $77.77, with a volume of 153091 shares trading hands. The stock had previously closed at $77.29.

Other research analysts have also recently issued research reports about the company. Truist Financial lifted their target price on Restaurant Brands International from $78.00 to $80.00 in a research report on Wednesday, May 3rd. Barclays boosted their price target on Restaurant Brands International from $78.00 to $84.00 in a report on Wednesday, May 3rd. Evercore ISI boosted their price target on Restaurant Brands International from $80.00 to $83.00 in a report on Friday, June 23rd. Credit Suisse Group boosted their price target on Restaurant Brands International from $74.00 to $79.00 in a report on Wednesday, May 3rd. Finally, Scotiabank assumed coverage on Restaurant Brands International in a report on Tuesday, March 28th. They set a “sector outperform” rating and a $72.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Restaurant Brands International currently has an average rating of “Moderate Buy” and an average price target of $74.68.

Insider Buying and Selling at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Mr Schwan sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $71.25, for a total value of $2,422,500.00. Following the transaction, the insider now directly owns 106,305 shares of the company’s stock, valued at $7,574,231.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Sami A. Siddiqui sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $72.40, for a total transaction of $1,086,000.00. Following the completion of the sale, the insider now owns 116,634 shares in the company, valued at $8,444,301.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Axel Mr Schwan sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $71.25, for a total value of $2,422,500.00. Following the sale, the insider now owns 106,305 shares of the company’s stock, valued at approximately $7,574,231.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,772 shares of company stock valued at $7,366,731. 1.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Restaurant Brands International

Hedge funds and other institutional investors have recently modified their holdings of the company. Aspire Private Capital LLC increased its holdings in shares of Restaurant Brands International by 175.9% during the fourth quarter. Aspire Private Capital LLC now owns 298 shares of the restaurant operator’s stock valued at $19,271,660,000 after acquiring an additional 190 shares in the last quarter. North Star Investment Management Corp. bought a new stake in Restaurant Brands International during the first quarter worth $26,000. Spire Wealth Management grew its holdings in Restaurant Brands International by 378.4% during the fourth quarter. Spire Wealth Management now owns 421 shares of the restaurant operator’s stock worth $27,000 after buying an additional 333 shares in the last quarter. RFP Financial Group LLC bought a new stake in Restaurant Brands International during the fourth quarter worth $32,000. Finally, Parkside Financial Bank & Trust bought a new stake in Restaurant Brands International during the first quarter worth $34,000.

Restaurant Brands International Price Performance

The company has a fifty day moving average of $74.91 and a 200-day moving average of $69.27. The firm has a market cap of $24.10 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.86 and a beta of 0.97. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.01 and a quick ratio of 0.93.

Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last announced its quarterly earnings results on Tuesday, May 2nd. The restaurant operator reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. Restaurant Brands International had a return on equity of 35.70% and a net margin of 15.26%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Restaurant Brands International’s revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Restaurant Brands International Inc. will post 3.08 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 22nd were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $2.20 annualized dividend and a yield of 2.85%. Restaurant Brands International’s dividend payout ratio (DPR) is currently 67.07%.

Restaurant Brands International Company Profile

(Get Free Report)

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.