JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Restaurant Brands International (NYSE:QSR) Stock

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $77.00 to $80.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 1.18% from the company’s current price.

A number of other analysts have also recently commented on the stock. Scotiabank reduced their target price on shares of Restaurant Brands International from $74.00 to $71.00 and set a “sector perform” rating for the company in a report on Friday, February 13th. TD Cowen upped their target price on shares of Restaurant Brands International from $72.00 to $76.00 and gave the company a “hold” rating in a report on Tuesday, April 14th. Truist Financial upped their target price on shares of Restaurant Brands International from $83.00 to $87.00 and gave the company a “buy” rating in a report on Monday, March 2nd. BMO Capital Markets reduced their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Finally, KeyCorp upped their target price on shares of Restaurant Brands International from $78.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Restaurant Brands International presently has an average rating of “Moderate Buy” and a consensus target price of $81.39.

Restaurant Brands International Stock Down 0.3%

QSR opened at $80.96 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 2.62. The firm has a 50 day moving average price of $74.01 and a 200-day moving average price of $70.65. Restaurant Brands International has a twelve month low of $61.33 and a twelve month high of $81.67. The stock has a market capitalization of $28.10 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.33 and a beta of 0.51.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Restaurant Brands International had a net margin of 8.23% and a return on equity of 32.51%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that Restaurant Brands International will post 4.05 earnings per share for the current year.

Insiders Place Their Bets

In other Restaurant Brands International news, insider Jill Granat sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $75.09, for a total value of $1,877,250.00. Following the completion of the transaction, the insider directly owned 478,845 shares in the company, valued at $35,956,471.05. This represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joshua Kobza sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $75.05, for a total transaction of $15,010,000.00. Following the completion of the transaction, the chief executive officer owned 960,769 shares of the company’s stock, valued at approximately $72,105,713.45. The trade was a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 441,490 shares of company stock valued at $32,375,140. Insiders own 1.25% of the company’s stock.

Hedge Funds Weigh In On Restaurant Brands International

A number of hedge funds have recently modified their holdings of QSR. Baupost Group LLC MA boosted its position in shares of Restaurant Brands International by 103.8% in the third quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator’s stock worth $529,337,000 after purchasing an additional 4,203,300 shares during the period. Platinum Paramount Investment LTD. bought a new position in shares of Restaurant Brands International in the fourth quarter worth approximately $281,033,000. Norges Bank bought a new position in shares of Restaurant Brands International in the fourth quarter worth approximately $260,709,000. Capital World Investors boosted its position in shares of Restaurant Brands International by 7.7% in the fourth quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator’s stock worth $2,969,819,000 after purchasing an additional 3,095,167 shares during the period. Finally, State Street Corp boosted its position in shares of Restaurant Brands International by 9,477.4% in the second quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator’s stock worth $198,711,000 after purchasing an additional 2,966,048 shares during the period. 82.29% of the stock is currently owned by institutional investors.

About Restaurant Brands International

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.