On November 26, 2023, Ali Hedayat, a director at Restaurant Brands International Inc. (NYSE:QSR), sold 7,000 shares of the company’s stock for a total of $509,390. The shares were sold at an average price of $72.77 each. Following this transaction, Hedayat’s holdings decreased by approximately 26.96%, leaving him with 18,962 shares valued at about $1,379,864.74.
Stock Performance and Market Insights
After the sale, Restaurant Brands’ stock opened at $71.90 on the following day. The company boasts a market capitalization of $23.57 billion and maintains a price-to-earnings ratio of 25.59. Additionally, its debt-to-equity ratio stands at 2.65, with a quick ratio of 0.98 and a current ratio of 1.06. Over the last year, shares have fluctuated, with a 52-week low of $58.71 and a high of $73.13.
In its most recent earnings report released on October 30, 2023, Restaurant Brands International reported earnings per share of $1.03, surpassing analysts’ expectations of $1.00 by $0.03. The company also reported revenue of $2.45 billion for the quarter, exceeding the consensus estimate of $2.39 billion. This represents a year-over-year revenue increase of 6.9%.
Analyst Ratings and Institutional Investments
The market response to Restaurant Brands has drawn varied opinions from analysts. On October 16, 2023, Citigroup raised its price target for the stock from $72.00 to $74.00, maintaining a “neutral” rating. Robert W. Baird followed suit by increasing its target from $68.00 to $72.00, also giving it a “neutral” rating. In contrast, Guggenheim lifted its price objective from $77.00 to $78.00, endorsing a “buy” rating.
Additionally, Royal Bank of Canada adjusted its target price downward from $80.00 to $77.00 while maintaining an “outperform” rating. The firm is now surrounded by ten analysts who have rated the stock as a “buy,” twelve as a “hold,” and one as a “sell.” Collectively, the consensus rating stands at “hold” with a price target of approximately $75.23.
Institutional investors have also been active with their holdings in Restaurant Brands. Baupost Group LLC increased its stake by 103.8% in the third quarter, acquiring an additional 4,203,300 shares, bringing its total ownership to 8,252,862 shares worth $529,337,000. Other notable investments include a new stake from Norges Bank valued at $254,948,000 and Davis Selected Advisers with an investment of $224,744,000.
As of now, institutional investors hold approximately 82.29% of Restaurant Brands International’s stock, reflecting strong confidence in the company’s market position and potential for future growth.
Restaurant Brands International operates a diverse portfolio of quick-service restaurant brands, including Tim Hortons, Burger King, Popeyes Louisiana Kitchen, and Firehouse Subs. The company continues to expand its reach both in Canada and internationally, demonstrating resilience and adaptability in the competitive food service industry.
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