Truist Financial Raises Restaurant Brands International (NYSE:QSR) Price Target to $81.00

Restaurant Brands International (NYSE:QSR - Free Report) TSE: QSR had its price objective hoisted by Truist Financial from $78.00 to $81.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the restaurant operator's stock.

Several other brokerages have also commented on QSR. Morgan Stanley boosted their price objective on Restaurant Brands International from $72.00 to $73.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. CIBC cut their target price on Restaurant Brands International from $78.00 to $77.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. cut their target price on Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Argus raised Restaurant Brands International from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Finally, Scotiabank raised Restaurant Brands International to a "hold" rating and set a $75.00 target price for the company in a research note on Wednesday, June 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $75.82.

Restaurant Brands International Price Performance

Shares of NYSE QSR traded up $0.77 during midday trading on Wednesday, hitting $68.02. 755,820 shares of the company's stock were exchanged, compared to its average volume of 2,100,872. Restaurant Brands International has a 12-month low of $58.71 and a 12-month high of $75.07. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 2.84. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.02 and a beta of 0.58. The business's fifty day moving average price is $68.46 and its two-hundred day moving average price is $65.66.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last issued its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). Restaurant Brands International had a return on equity of 28.94% and a net margin of 10.82%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the firm posted $0.73 EPS. The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, research analysts forecast that Restaurant Brands International will post 3.72 EPS for the current fiscal year.

Restaurant Brands International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 24th were paid a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.48 annualized dividend and a yield of 3.65%. Restaurant Brands International's payout ratio is 84.07%.

Insiders Place Their Bets

In related news, insider Jacqueline Friesner sold 70,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $70.08, for a total value of $4,905,600.00. Following the sale, the insider directly owned 182,897 shares of the company's stock, valued at $12,817,421.76. This represents a 27.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Restaurant Brands International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QSR. Norges Bank purchased a new stake in shares of Restaurant Brands International in the fourth quarter worth $264,813,000. Davis Selected Advisers purchased a new stake in shares of Restaurant Brands International in the first quarter worth $224,744,000. Meritage Group LP grew its stake in shares of 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 acquiring an additional 3,245,689 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Restaurant Brands International by 16.7% in the first quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator's stock worth $1,507,839,000 after acquiring an additional 3,230,735 shares during the last quarter. Finally, Baupost Group LLC MA boosted its position in shares of Restaurant Brands International by 10,155.5% during the fourth quarter. Baupost Group LLC MA now owns 2,901,700 shares of the restaurant operator's stock valued at $189,133,000 after buying an additional 2,873,406 shares during the last quarter. 82.29% of the stock is 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.