KeyCorp Raises Restaurant Brands International (NYSE:QSR) Price Target to $90.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price objective lifted by research analysts at KeyCorp from $78.00 to $90.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. KeyCorp’s price objective would indicate a potential upside of 14.91% from the stock’s previous close.

QSR has been the topic of a number of other research reports. Oppenheimer raised their target price on shares of Restaurant Brands International from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Piper Sandler upgraded shares of Restaurant Brands International from a “neutral” rating to an “overweight” rating and raised their target price for the company from $71.00 to $84.00 in a research report on Monday, March 2nd. Royal Bank Of Canada raised their target price on shares of Restaurant Brands International from $80.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. BMO Capital Markets cut their target price on shares of Restaurant Brands International from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, Stifel Nicolaus upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $90.00 in a research report on Monday, March 2nd. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.04.

Restaurant Brands International Stock Performance

NYSE QSR opened at $78.32 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $27.18 billion, a price-to-earnings ratio of 33.19, a P/E/G ratio of 2.24 and a beta of 0.51. The firm’s 50 day simple moving average is $72.92 and its 200 day simple moving average is $70.26. Restaurant Brands International has a 1 year low of $61.33 and a 1 year high of $79.53.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, research analysts expect that Restaurant Brands International will post 3.72 earnings per share for the current fiscal year.

Insider Activity at Restaurant Brands International

In other news, insider Jill Granat sold 25,000 shares of Restaurant Brands International stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $75.09, for a total transaction of $1,877,250.00. Following the transaction, the insider owned 478,845 shares in the company, valued at approximately $35,956,471.05. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Axel Schwan sold 34,939 shares of Restaurant Brands International stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $67.51, for a total transaction of $2,358,731.89. Following the transaction, the insider directly owned 194,984 shares of the company’s stock, valued at $13,163,369.84. This represents a 15.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 441,490 shares of company stock valued at $32,375,140 in the last quarter. Insiders own 1.25% of the company’s stock.

Hedge Funds Weigh In On Restaurant Brands International

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

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.