Piper Sandler Cuts Restaurant Brands International (NYSE:QSR) Price Target to $70.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price target decreased by Piper Sandler from $72.00 to $70.00 in a report released on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator’s stock.

Several other equities research analysts also recently issued reports on QSR. Morgan Stanley decreased their price objective on shares of Restaurant Brands International from $73.00 to $72.00 and set an “equal weight” rating for the company in a research note on Monday, July 14th. Scotiabank upgraded shares of Restaurant Brands International to a “hold” rating and set a $75.00 price objective for the company in a research note on Wednesday, June 18th. Truist Financial boosted their price objective on shares of Restaurant Brands International from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Citigroup boosted their price objective on shares of Restaurant Brands International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Oppenheimer upped their target price on shares of Restaurant Brands International from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.00.

Restaurant Brands International Stock Down 0.8%

Shares of NYSE:QSR opened at $64.54 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 2.69. Restaurant Brands International has a fifty-two week low of $58.71 and a fifty-two week high of $74.09. The firm’s 50-day simple moving average is $68.16 and its 200-day simple moving average is $66.51. The company has a market cap of $21.16 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.02 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.03). The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.33 billion. Restaurant Brands International had a net margin of 9.43% and a return on equity of 29.54%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts predict that Restaurant Brands International will post 3.72 earnings per share for the current year.

Restaurant Brands International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 23rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 23rd. Restaurant Brands International’s dividend payout ratio is currently 93.94%.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $70.08, for a total value of $4,905,600.00. Following the transaction, the insider owned 182,897 shares in the company, valued at approximately $12,817,421.76. This represents a 27.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of QSR. Davis Selected Advisers bought a new stake in shares of Restaurant Brands International during the 1st quarter worth $224,744,000. Meritage Group LP boosted its holdings in Restaurant Brands International by 5,795.9% in the 4th quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator’s stock valued at $215,204,000 after purchasing an additional 3,245,689 shares during the period. Royal Bank of Canada lifted its holdings in shares of Restaurant Brands International by 16.7% during the 1st 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 period. Baupost Group LLC MA lifted its holdings in shares of Restaurant Brands International by 10,155.5% during the 4th quarter. Baupost Group LLC MA now owns 2,901,700 shares of the restaurant operator’s stock worth $189,133,000 after acquiring an additional 2,873,406 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Restaurant Brands International by 26.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 12,819,570 shares of the restaurant operator’s stock worth $834,478,000 after acquiring an additional 2,695,071 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

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.