KeyCorp Cuts Restaurant Brands International (NYSE:QSR) Price Target to $65.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price objective decreased by KeyCorp from $66.00 to $65.00 in a research report sent to investors on Friday morning, Price Targets.com reports. KeyCorp currently has an overweight rating on the restaurant operator’s stock. KeyCorp also issued estimates for Restaurant Brands International’s Q1 2021 earnings at $0.53 EPS, Q2 2021 earnings at $0.61 EPS, Q3 2021 earnings at $0.81 EPS, Q4 2021 earnings at $0.75 EPS and FY2021 earnings at $2.70 EPS.

Other equities analysts have also issued reports about the stock. Credit Suisse Group lifted their price objective on shares of Restaurant Brands International from $59.00 to $63.00 and gave the company an outperform rating in a report on Wednesday, October 28th. BMO Capital Markets lifted their price objective on shares of Restaurant Brands International from $65.00 to $70.00 and gave the company an outperform rating in a report on Friday, January 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of Restaurant Brands International in a report on Monday, January 4th. They set a buy rating and a $74.00 price objective on the stock. Smith Barney Citigroup assumed coverage on shares of Restaurant Brands International in a report on Monday, January 4th. They set a buy rating and a $74.00 price objective on the stock. Finally, Cowen cut their price objective on shares of Restaurant Brands International from $67.00 to $64.00 and set an outperform rating on the stock in a report on Wednesday, October 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $64.83.

Shares of NYSE:QSR opened at $59.05 on Friday. The firm has a market cap of $18.02 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. The firm’s 50 day simple moving average is $60.83 and its 200-day simple moving average is $58.00. Restaurant Brands International has a one year low of $25.08 and a one year high of $67.33. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.60 and a current ratio of 1.65.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its earnings results on Wednesday, February 10th. The restaurant operator reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.13). Restaurant Brands International had a return on equity of 26.67% and a net margin of 11.00%. Equities research analysts predict that Restaurant Brands International will post 2.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 6th. Stockholders of record on Tuesday, March 23rd will be paid a dividend of $0.53 per share. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, March 22nd. Restaurant Brands International’s payout ratio is presently 76.47%.

In related news, COO Joshua Kobza sold 149,793 shares of the business’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $59.81, for a total transaction of $8,959,119.33. Following the completion of the transaction, the chief operating officer now directly owns 100,039 shares in the company, valued at $5,983,332.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ali Hedayat sold 5,000 shares of the business’s stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $59.10, for a total transaction of $295,500.00. Following the transaction, the director now owns 21,587 shares of the company’s stock, valued at $1,275,791.70. The disclosure for this sale can be found here. Insiders have sold 227,018 shares of company stock valued at $13,611,940 over the last quarter. Insiders own 3.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jarislowsky Fraser Ltd lifted its position in Restaurant Brands International by 2.3% during the third quarter. Jarislowsky Fraser Ltd now owns 10,371,839 shares of the restaurant operator’s stock valued at $593,853,000 after purchasing an additional 228,743 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Restaurant Brands International by 68.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,550,000 shares of the restaurant operator’s stock worth $317,772,000 after acquiring an additional 2,250,000 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Restaurant Brands International by 4.6% in the third quarter. The Manufacturers Life Insurance Company now owns 5,421,047 shares of the restaurant operator’s stock worth $414,602,000 after acquiring an additional 236,382 shares during the period. Pelham Capital Ltd. raised its position in shares of Restaurant Brands International by 10.7% in the third quarter. Pelham Capital Ltd. now owns 4,891,071 shares of the restaurant operator’s stock worth $281,285,000 after acquiring an additional 471,000 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Restaurant Brands International by 4.5% in the fourth quarter. Mackenzie Financial Corp now owns 4,438,985 shares of the restaurant operator’s stock worth $270,588,000 after acquiring an additional 190,613 shares during the period. Institutional investors own 79.46% of the company’s stock.

About Restaurant Brands International

Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.

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