CIBC Lowers Restaurant Brands International (NYSE:QSR) Price Target to $86.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price target cut by CIBC from $88.00 to $86.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperformer” rating on the restaurant operator’s stock. CIBC’s target price suggests a potential upside of 25.33% from the stock’s previous close.

QSR has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Restaurant Brands International from $86.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. KeyCorp dropped their price objective on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada reduced their price target on Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday. Oppenheimer lowered their target price on shares of Restaurant Brands International from $89.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Finally, Evercore ISI dropped their price target on shares of Restaurant Brands International from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.56.

Restaurant Brands International Stock Performance

QSR opened at $68.62 on Wednesday. Restaurant Brands International has a 1 year low of $65.87 and a 1 year high of $83.29. The company has a debt-to-equity ratio of 2.71, a current ratio of 0.78 and a quick ratio of 0.71. The firm has a fifty day moving average price of $70.23 and a 200 day moving average price of $70.54. The stock has a market cap of $22.21 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.09 and a beta of 0.94.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.05 billion. Equities research analysts anticipate that Restaurant Brands International will post 3.37 earnings per share for the current year.

Insider Activity

In related news, insider Axel Mr Schwan sold 36,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 97,479 shares of the company’s stock, valued at $6,866,420.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Axel Mr Schwan sold 36,000 shares of the business’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Benjamin Curtis sold 6,536 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.63, for a total transaction of $448,565.68. Following the completion of the sale, the insider now directly owns 37,179 shares in the company, valued at approximately $2,551,594.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Restaurant Brands International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Restaurant Brands International by 1.0% in the 3rd quarter. Swiss National Bank now owns 909,030 shares of the restaurant operator’s stock valued at $65,698,000 after acquiring an additional 9,100 shares during the last quarter. Natixis Advisors LLC increased its stake in Restaurant Brands International by 4.4% in the third quarter. Natixis Advisors LLC now owns 54,726 shares of the restaurant operator’s stock valued at $3,947,000 after purchasing an additional 2,292 shares in the last quarter. CIBC Asset Management Inc increased its stake in Restaurant Brands International by 4.2% in the third quarter. CIBC Asset Management Inc now owns 2,969,582 shares of the restaurant operator’s stock valued at $215,448,000 after purchasing an additional 118,721 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Restaurant Brands International in the third quarter worth $61,000. Finally, MQS Management LLC bought a new position in shares of Restaurant Brands International during the third quarter worth $402,000. 82.29% of the stock is owned by institutional investors and hedge funds.

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.