Wells Fargo & Company Cuts Restaurant Brands International (NYSE:QSR) Price Target to $66.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price target trimmed by Wells Fargo & Company from $69.00 to $66.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

A number of other equities analysts have also recently weighed in on QSR. Barclays dropped their price target on Restaurant Brands International from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Truist Financial decreased their price objective on shares of Restaurant Brands International from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup cut their target price on shares of Restaurant Brands International from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Restaurant Brands International in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.25.

Restaurant Brands International Stock Down 0.2 %

NYSE QSR opened at $62.56 on Tuesday. Restaurant Brands International has a 12 month low of $58.71 and a 12 month high of $77.24. The company has a market capitalization of $20.50 billion, a P/E ratio of 19.67, a PEG ratio of 1.77 and a beta of 0.72. The company’s 50 day simple moving average is $64.92 and its 200 day simple moving average is $66.22. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.02 and a quick ratio of 0.94.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Wednesday, February 12th. The restaurant operator reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.29). Restaurant Brands International had a net margin of 12.15% and a return on equity of 28.53%. Equities research analysts expect that Restaurant Brands International will post 3.72 earnings per share for the current fiscal year.

Restaurant Brands International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $2.48 dividend on an annualized basis and a yield of 3.96%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.58. Restaurant Brands International’s dividend payout ratio is presently 77.99%.

Insider Buying and Selling at Restaurant Brands International

In other news, CFO Sami A. Siddiqui sold 18,477 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.35, for a total transaction of $1,152,040.95. Following the completion of the transaction, the chief financial officer now directly owns 55,761 shares in the company, valued at $3,476,698.35. The trade was a 24.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joshua Kobza sold 93,619 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.35, for a total value of $5,837,144.65. Following the completion of the sale, the chief executive officer now directly owns 848,578 shares of the company’s stock, valued at $52,908,838.30. This represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 278,716 shares of company stock worth $17,740,281 over the last 90 days. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Restaurant Brands International

Several large investors have recently bought and sold shares of QSR. Bleakley Financial Group LLC increased its holdings in shares of Restaurant Brands International by 5.4% during the 4th quarter. Bleakley Financial Group LLC now owns 3,137 shares of the restaurant operator’s stock worth $204,000 after purchasing an additional 161 shares during the period. GeoWealth Management LLC increased its stake in Restaurant Brands International by 7.0% during the fourth quarter. GeoWealth Management LLC now owns 2,487 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 163 shares during the period. Waterfront Wealth Inc. raised its holdings in Restaurant Brands International by 1.3% in the 4th quarter. Waterfront Wealth Inc. now owns 14,034 shares of the restaurant operator’s stock valued at $915,000 after acquiring an additional 180 shares in the last quarter. Capital Analysts LLC lifted its position in shares of Restaurant Brands International by 24.3% in the 4th quarter. Capital Analysts LLC now owns 952 shares of the restaurant operator’s stock worth $62,000 after acquiring an additional 186 shares during the period. Finally, Dunhill Financial LLC grew its holdings in shares of Restaurant Brands International by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 400 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

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.