Restaurant Brands International (NYSE:QSR) Hits New 12-Month High – Here’s What Happened

Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) shares reached a new 52-week high on Monday . The stock traded as high as $75.66 and last traded at $74.8870, with a volume of 2070797 shares traded. The stock had previously closed at $73.75.

Analyst Ratings Changes

A number of brokerages recently weighed in on QSR. Sanford C. Bernstein set a $82.00 price target on shares of Restaurant Brands International in a research note on Friday, February 13th. Piper Sandler upgraded Restaurant Brands International from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $71.00 to $84.00 in a research note on Monday, March 2nd. Citigroup decreased their target price on Restaurant Brands International from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. lowered their price target on Restaurant Brands International from $77.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Finally, Truist Financial boosted their price target on Restaurant Brands International from $83.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.19.

Restaurant Brands International Trading Down 1.3%

The stock has a market capitalization of $25.31 billion, a PE ratio of 30.90, a P/E/G ratio of 2.13 and a beta of 0.56. The company’s 50 day moving average price is $70.14 and its two-hundred day moving average price is $68.71. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.91.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Thursday, February 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the company earned $0.81 EPS. Restaurant Brands International’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts expect that Restaurant Brands International Inc. will post 3.72 earnings per share for the current year.

Restaurant Brands International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, March 19th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, March 19th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 110.17%.

Insider Activity

In other Restaurant Brands International news, CEO Joshua Kobza sold 200,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $75.05, for a total transaction of $15,010,000.00. Following the transaction, the chief executive officer owned 960,769 shares of the company’s stock, valued at approximately $72,105,713.45. The trade was a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jill Granat sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $75.09, for a total value of $1,877,250.00. Following the completion of the sale, the insider directly owned 478,845 shares of the company’s stock, valued at $35,956,471.05. This trade represents a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 455,191 shares of company stock valued at $33,299,206 in the last 90 days. 1.25% of the stock is owned by insiders.

Institutional Trading of Restaurant Brands International

Institutional investors have recently made changes to their positions in the company. Purpose Unlimited Inc. purchased a new stake in Restaurant Brands International in the fourth quarter valued at $7,329,000. Rockefeller Capital Management L.P. increased its position in shares of Restaurant Brands International by 26.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 325,904 shares of the restaurant operator’s stock worth $22,237,000 after purchasing an additional 69,030 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Restaurant Brands International by 93.6% during the 4th quarter. Corient Private Wealth LLC now owns 26,792 shares of the restaurant operator’s stock worth $1,828,000 after purchasing an additional 12,951 shares during the last quarter. Platinum Paramount Investment LTD. purchased a new stake in Restaurant Brands International in the 4th quarter valued at about $281,033,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Restaurant Brands International by 238.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,520 shares of the restaurant operator’s stock valued at $240,000 after buying an additional 2,479 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 (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.