KeyCorp Cuts Restaurant Brands International (NYSE:QSR) Price Target to $78.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price target decreased by research analysts at KeyCorp from $80.00 to $78.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. KeyCorp’s price objective would indicate a potential upside of 14.45% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Piper Sandler lowered their price target on shares of Restaurant Brands International from $82.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Morgan Stanley reduced their price objective on shares of Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Bank of America upped their price objective on shares of Restaurant Brands International from $76.00 to $77.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus reduced their price objective on shares of Restaurant Brands International from $80.00 to $77.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, TD Cowen restated a “buy” rating and set a $82.00 price objective on shares of Restaurant Brands International in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.08.

Restaurant Brands International Stock Performance

Shares of NYSE QSR opened at $68.15 on Wednesday. The company’s fifty day moving average price is $70.24 and its 200 day moving average price is $70.55. Restaurant Brands International has a 1 year low of $65.75 and a 1 year high of $83.29. The company has a market capitalization of $22.06 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.09 and a beta of 0.94. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.71 and a current ratio of 0.78.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. Restaurant Brands International had a net margin of 16.99% and a return on equity of 30.78%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. On average, research analysts predict that Restaurant Brands International will post 3.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Axel Mr Schwan sold 36,000 shares of Restaurant Brands International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $70.44, for a total value of $2,535,840.00. Following the transaction, the insider now directly owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Axel Mr Schwan sold 36,000 shares of Restaurant Brands International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $70.44, for a total value of $2,535,840.00. Following the transaction, the insider now directly owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Benjamin Curtis sold 6,536 shares of Restaurant Brands International stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $68.63, for a total transaction of $448,565.68. Following the completion of the transaction, the insider now directly owns 37,179 shares in the company, valued at $2,551,594.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Restaurant Brands International

A number of hedge funds and other institutional investors have recently bought and sold shares of QSR. Quantbot Technologies LP purchased a new stake in shares of Restaurant Brands International during the 1st quarter worth $850,000. Oppenheimer & Co. Inc. boosted its position in shares of Restaurant Brands International by 16.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 74,421 shares of the restaurant operator’s stock worth $5,913,000 after purchasing an additional 10,544 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Restaurant Brands International by 6.1% during the 1st quarter. Russell Investments Group Ltd. now owns 124,770 shares of the restaurant operator’s stock worth $9,915,000 after purchasing an additional 7,196 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Restaurant Brands International by 63.7% during the 1st quarter. Cetera Investment Advisers now owns 40,837 shares of the restaurant operator’s stock worth $3,245,000 after purchasing an additional 15,891 shares in the last quarter. Finally, Sumitomo Life Insurance Co. purchased a new stake in shares of Restaurant Brands International during the 2nd quarter worth $666,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

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.