Truist Financial Trims Restaurant Brands International (NYSE:QSR) Target Price to $86.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its target price lowered by Truist Financial from $87.00 to $86.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

QSR has been the subject of a number of other research reports. Barclays upped their price target on Restaurant Brands International from $87.00 to $89.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Royal Bank of Canada reiterated an outperform rating and set a $90.00 target price on shares of Restaurant Brands International in a research report on Friday, August 9th. TD Cowen reissued a buy rating and issued a $88.00 price target on shares of Restaurant Brands International in a report on Thursday, August 8th. TD Securities increased their price objective on shares of Restaurant Brands International from $84.00 to $88.00 and gave the company a buy rating in a report on Wednesday, May 1st. Finally, KeyCorp cut their target price on shares of Restaurant Brands International from $85.00 to $80.00 and set an overweight rating for the company in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $83.07.

Restaurant Brands International Stock Down 1.2 %

QSR opened at $71.34 on Monday. The company has a fifty day moving average of $70.49 and a two-hundred day moving average of $73.14. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.06 and a beta of 0.92. Restaurant Brands International has a fifty-two week low of $61.77 and a fifty-two week high of $83.29. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.00 and a current ratio of 1.08.

Restaurant Brands International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, September 20th. Restaurant Brands International’s dividend payout ratio is presently 59.79%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in Restaurant Brands International by 24.1% in the fourth quarter. Parallel Advisors LLC now owns 788 shares of the restaurant operator’s stock valued at $62,000 after acquiring an additional 153 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in Restaurant Brands International by 5.1% in the first quarter. Bleakley Financial Group LLC now owns 3,201 shares of the restaurant operator’s stock valued at $254,000 after acquiring an additional 154 shares during the last quarter. First Horizon Advisors Inc. raised its position in Restaurant Brands International by 4.0% in the second quarter. First Horizon Advisors Inc. now owns 4,158 shares of the restaurant operator’s stock valued at $293,000 after purchasing an additional 160 shares during the period. Assenagon Asset Management S.A. raised its position in Restaurant Brands International by 3.6% in the first quarter. Assenagon Asset Management S.A. now owns 4,922 shares of the restaurant operator’s stock valued at $391,000 after purchasing an additional 170 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Restaurant Brands International by 22.2% in the first quarter. BNP Paribas Financial Markets now owns 1,117 shares of the restaurant operator’s stock valued at $89,000 after purchasing an additional 203 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Company Profile

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.