TD Cowen Reaffirms “Buy” Rating for Restaurant Brands International (NYSE:QSR)

TD Cowen reaffirmed their buy rating on shares of Restaurant Brands International (NYSE:QSR) (TSE:QSR) in a report released on Thursday morning, Benzinga reports. TD Cowen currently has a $82.00 target price on the restaurant operator’s stock.

QSR has been the subject of several other research reports. Royal Bank of Canada increased their target price on Restaurant Brands International from $90.00 to $95.00 and gave the stock an outperform rating in a research report on Thursday. Bank of America raised their price target on Restaurant Brands International from $72.00 to $79.00 and gave the company an underperform rating in a report on Wednesday, July 17th. Piper Sandler cut their price target on Restaurant Brands International from $82.00 to $75.00 and set a neutral rating for the company in a report on Monday, August 12th. KeyCorp cut their price target on Restaurant Brands International from $85.00 to $80.00 and set an overweight rating for the company in a report on Thursday, June 27th. Finally, The Goldman Sachs Group assumed coverage on Restaurant Brands International in a report on Thursday, June 13th. They set a buy rating and a $80.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $83.04.

Restaurant Brands International Stock Up 0.1 %

NYSE QSR opened at $69.18 on Thursday. The stock’s 50-day moving average price is $70.28 and its 200-day moving average price is $72.25. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 2.71. Restaurant Brands International has a 52 week low of $61.77 and a 52 week high of $83.29. The company has a market capitalization of $22.39 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.08 and a beta of 0.93.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.01. Restaurant Brands International had a return on equity of 30.78% and a net margin of 16.99%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. On average, equities research analysts predict that Restaurant Brands International will post 3.36 earnings per share for the current year.

Restaurant Brands International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

Insider Activity

In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the transaction, the insider now directly owns 37,179 shares of the company’s stock, valued at $2,551,594.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Thomas Benjamin Curtis sold 6,536 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total value of $448,565.68. Following the transaction, the insider now directly owns 37,179 shares of the company’s stock, valued at $2,551,594.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Axel Mr Schwan sold 36,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $70.44, for a total value of $2,535,840.00. Following the sale, the insider now directly owns 97,479 shares in the company, valued at $6,866,420.76. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Restaurant Brands International

Several hedge funds and other institutional investors have recently bought and sold shares of QSR. Capital Research Global Investors boosted its position in Restaurant Brands International by 19.8% during the fourth quarter. Capital Research Global Investors now owns 24,012,659 shares of the restaurant operator’s stock worth $1,876,109,000 after purchasing an additional 3,971,774 shares in the last quarter. Norges Bank purchased a new position in Restaurant Brands International during the fourth quarter worth approximately $243,551,000. D1 Capital Partners L.P. purchased a new position in Restaurant Brands International during the second quarter worth approximately $200,097,000. TD Asset Management Inc boosted its position in Restaurant Brands International by 41.0% during the first quarter. TD Asset Management Inc now owns 4,847,985 shares of the restaurant operator’s stock worth $385,361,000 after purchasing an additional 1,409,552 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Restaurant Brands International by 72.9% during the first quarter. Canada Pension Plan Investment Board now owns 2,655,157 shares of the restaurant operator’s stock worth $211,059,000 after purchasing an additional 1,119,582 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Restaurant Brands International Company Profile

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.