Restaurant Brands International (NYSE:QSR) Given New $79.00 Price Target at Citigroup

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its target price boosted by Citigroup from $78.00 to $79.00 in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

A number of other brokerages also recently issued reports on QSR. Oppenheimer increased their price objective on shares of Restaurant Brands International from $83.00 to $89.00 and gave the stock an outperform rating in a research note on Friday, January 5th. KeyCorp raised their price target on shares of Restaurant Brands International from $82.00 to $85.00 and gave the company an overweight rating in a research note on Wednesday. Evercore ISI raised their price target on shares of Restaurant Brands International from $88.00 to $93.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. Evercore raised their price target on shares of Restaurant Brands International from $88.00 to $93.00 and gave the company a buy rating in a research note on Wednesday, February 28th. Finally, Barclays raised their price target on shares of Restaurant Brands International from $87.00 to $89.00 and gave the company an overweight rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $83.39.

Restaurant Brands International Price Performance

Shares of QSR opened at $73.21 on Wednesday. The firm has a market capitalization of $23.16 billion, a PE ratio of 19.42, a PEG ratio of 2.19 and a beta of 0.91. The company’s 50-day moving average is $76.59 and its 200-day moving average is $74.51. Restaurant Brands International has a fifty-two week low of $61.77 and a fifty-two week high of $83.29. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.01 and a quick ratio of 0.94.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Restaurant Brands International had a net margin of 16.95% and a return on equity of 32.20%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm earned $0.75 earnings per share. Restaurant Brands International’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts forecast that Restaurant Brands International will post 3.38 EPS for the current year.

Restaurant Brands International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, June 20th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 61.54%.

Insider Activity at Restaurant Brands International

In related news, CFO Matthew Dunnigan sold 14,565 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $76.26, for a total value of $1,110,726.90. Following the sale, the chief financial officer now directly owns 55,863 shares in the company, valued at approximately $4,260,112.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Matthew Dunnigan sold 14,565 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $76.26, for a total transaction of $1,110,726.90. Following the sale, the chief financial officer now directly owns 55,863 shares in the company, valued at $4,260,112.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jill Granat sold 80,332 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $76.20, for a total value of $6,121,298.40. Following the sale, the insider now owns 410,759 shares in the company, valued at $31,299,835.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 380,200 shares of company stock worth $28,828,182. Company insiders own 1.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Aviva PLC boosted its stake in Restaurant Brands International by 1.3% in the third quarter. Aviva PLC now owns 11,726 shares of the restaurant operator’s stock worth $784,000 after buying an additional 149 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Restaurant Brands International by 24.1% during the fourth quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock valued at $62,000 after purchasing an additional 153 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Restaurant Brands International by 2.7% during the third quarter. PNC Financial Services Group Inc. now owns 6,348 shares of the restaurant operator’s stock valued at $423,000 after purchasing an additional 168 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Restaurant Brands International by 3.6% during the first quarter. Assenagon Asset Management S.A. now owns 4,922 shares of the restaurant operator’s stock valued at $391,000 after purchasing an additional 170 shares during the period. Finally, Rise Advisors LLC boosted its stake in shares of Restaurant Brands International by 88.3% during the fourth quarter. Rise Advisors LLC now owns 371 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 174 shares during the period. Hedge funds and other institutional investors own 82.29% of the company’s stock.

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.