JPMorgan Chase & Co. Cuts Restaurant Brands International (NYSE:QSR) Price Target to $78.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price target decreased by JPMorgan Chase & Co. from $82.00 to $78.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the restaurant operator’s stock.

Several other equities research analysts also recently commented on QSR. CL King set a $80.00 price objective on Restaurant Brands International in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Restaurant Brands International from $86.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. TD Cowen increased their price target on shares of Restaurant Brands International from $79.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, July 9th. Scotia decreased their price objective on shares of Restaurant Brands International from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. Finally, Robert W. Baird boosted their price objective on shares of Restaurant Brands International from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, August 24th. Sixteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Restaurant Brands International currently has an average rating of “Moderate Buy” and an average price target of $83.71.

Restaurant Brands International Stock Performance

QSR opened at $69.75 on Tuesday. Restaurant Brands International has a 52-week low of $64.52 and a 52-week high of $81.96. The firm has a market capitalization of $24.33 billion, a PE ratio of 18.75, a PEG ratio of 2.00 and a beta of 0.52. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.92 and a current ratio of 1.01. The business’s 50-day simple moving average is $75.63 and its 200 day simple moving average is $75.48.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. Restaurant Brands International had a return on equity of 33.43% and a net margin of 13.12%.The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. As a group, sell-side analysts expect that Restaurant Brands International will post 4.01 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 18th. Restaurant Brands International’s dividend payout ratio is 69.89%.

Insider Transactions at Restaurant Brands International

In other Restaurant Brands International news, insider Axel Schwan sold 57,574 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $81.14, for a total transaction of $4,671,554.36. Following the completion of the sale, the insider owned 209,908 shares of the company’s stock, valued at $17,031,935.12. This trade represents a 21.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Restaurant Brands International

Large investors have recently modified their holdings of the stock. Andra AP fonden boosted its stake in shares of Restaurant Brands International by 5,141.7% in the second quarter. Andra AP fonden now owns 62,900 shares of the restaurant operator’s stock valued at $4,561,000 after buying an additional 61,700 shares during the period. Engineers Gate Manager LP grew its position in Restaurant Brands International by 150.7% during the second quarter. Engineers Gate Manager LP now owns 36,429 shares of the restaurant operator’s stock worth $2,641,000 after buying an additional 21,897 shares in the last quarter. NewEdge Advisors LLC increased its stake in Restaurant Brands International by 1,440.5% during the 2nd quarter. NewEdge Advisors LLC now owns 94,372 shares of the restaurant operator’s stock worth $6,843,000 after acquiring an additional 88,246 shares during the period. Baird Financial Group Inc. acquired a new position in Restaurant Brands International in the 2nd quarter valued at $352,000. Finally, Allworth Financial LP lifted its position in shares of Restaurant Brands International by 6.4% during the 2nd quarter. Allworth Financial LP now owns 2,260 shares of the restaurant operator’s stock valued at $164,000 after acquiring an additional 136 shares during the period. 82.29% of the stock is owned by institutional investors.

About Restaurant Brands International

Restaurant Brands International Inc (NYSE:QSR) is a global quick-service restaurant company that owns and operates a portfolio of well-known restaurant brands. Its principal brands are Burger King, Tim Hortons, Popeyes Louisiana Kitchen and Firehouse Subs, which serve customers through company-operated and franchised restaurants.

The company’s brands offer a range of products, including hamburgers, chicken sandwiches and meals, coffee and baked goods, fried and Louisiana-style chicken, and specialty subs.