Citigroup Cuts Restaurant Brands International (NYSE:QSR) Price Target to $65.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price objective lowered by Citigroup from $73.00 to $65.00 in a research report released on Thursday morning,BayStreet.CA reports. The brokerage currently has a negative rating on the restaurant operator’s stock.

Several other brokerages have also recently issued reports on QSR. CIBC reduced their target price on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group decreased their price objective on Restaurant Brands International from $73.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday. Guggenheim upgraded Restaurant Brands International from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $74.00 to $71.00 in a research report on Friday, January 24th. Evercore ISI dropped their price objective on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus cut their price target on Restaurant Brands International from $72.00 to $68.00 and set a “hold” rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Restaurant Brands International Price Performance

Shares of NYSE:QSR opened at $61.48 on Thursday. Restaurant Brands International has a twelve month low of $59.85 and a twelve month high of $83.29. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 2.75. The company has a market cap of $19.95 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. The company’s 50 day moving average is $65.34 and its 200 day moving average is $68.52.

Restaurant Brands International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a $0.58 dividend. The ex-dividend date was Friday, December 20th. This represents a $2.32 annualized dividend and a yield of 3.77%. Restaurant Brands International’s dividend payout ratio is presently 58.15%.

Insider Transactions at Restaurant Brands International

In related news, insider Jill Granat sold 81,387 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $69.37, for a total transaction of $5,645,816.19. Following the completion of the transaction, the insider now directly owns 388,759 shares of the company’s stock, valued at $26,968,211.83. The trade was a 17.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joshua Kobza sold 12,420 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $797,364.00. Following the sale, the chief executive officer now owns 703,445 shares in the company, valued at approximately $45,161,169. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,510 shares of company stock valued at $7,774,020. 1.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Buckingham Capital Management Inc. lifted its position in shares of Restaurant Brands International by 8.5% during the 4th quarter. Buckingham Capital Management Inc. now owns 24,130 shares of the restaurant operator’s stock worth $1,573,000 after purchasing an additional 1,896 shares during the last quarter. BKM Wealth Management LLC raised its stake in Restaurant Brands International by 3.2% in the fourth quarter. BKM Wealth Management LLC now owns 8,338 shares of the restaurant operator’s stock valued at $543,000 after buying an additional 261 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Restaurant Brands International by 213.6% during the 4th quarter. Venturi Wealth Management LLC now owns 461 shares of the restaurant operator’s stock worth $30,000 after buying an additional 314 shares during the last quarter. Partners Capital Investment Group LLP acquired a new position in shares of Restaurant Brands International during the 4th quarter worth about $4,969,000. Finally, Allworth Financial LP increased its holdings in shares of Restaurant Brands International by 205.6% in the 4th quarter. Allworth Financial LP now owns 1,751 shares of the restaurant operator’s stock valued at $106,000 after acquiring an additional 1,178 shares during the last quarter. 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.