Wells Fargo & Company Lowers Restaurant Brands International (NYSE:QSR) Price Target to $69.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its target price decreased by Wells Fargo & Company from $72.00 to $69.00 in a report issued on Wednesday morning,BayStreet.CA reports. Wells Fargo & Company currently has an equal weight rating on the restaurant operator’s stock.

Several other analysts also recently commented on QSR. Argus reduced their price objective on shares of Restaurant Brands International from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Oppenheimer reduced their price objective on shares of Restaurant Brands International from $86.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday. Bank of America lifted their price target on shares of Restaurant Brands International from $76.00 to $77.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus reduced their price target on shares of Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reduced their price target on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.46.

Restaurant Brands International Stock Performance

Shares of QSR stock opened at $60.94 on Wednesday. The company has a market cap of $19.73 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. Restaurant Brands International has a 52 week low of $60.87 and a 52 week high of $83.29. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75. The firm has a 50 day moving average of $67.53 and a 200-day moving average of $69.45.

Restaurant Brands International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Friday, December 20th. Restaurant Brands International’s dividend payout ratio is currently 58.15%.

Insiders Place Their Bets

In other Restaurant Brands International news, CFO Sami A. Siddiqui sold 5,579 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $64.20, for a total value of $358,171.80. Following the completion of the sale, the chief financial officer now owns 27,266 shares in the company, valued at approximately $1,750,477.20. The trade was a 16.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill Granat sold 81,387 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $69.37, for a total value of $5,645,816.19. Following the transaction, the insider now owns 388,759 shares of the company’s stock, valued at approximately $26,968,211.83. This represents a 17.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,510 shares of company stock valued at $7,774,020 over the last quarter. 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 made changes to their positions in the business. Geode Capital Management LLC grew its stake in Restaurant Brands International by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,379,847 shares of the restaurant operator’s stock worth $101,085,000 after purchasing an additional 126,600 shares during the period. Dimensional Fund Advisors LP grew its stake in Restaurant Brands International by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 650,486 shares of the restaurant operator’s stock worth $45,772,000 after purchasing an additional 10,855 shares during the period. Wellington Management Group LLP grew its stake in Restaurant Brands International by 112.1% in the third quarter. Wellington Management Group LLP now owns 17,965 shares of the restaurant operator’s stock worth $1,298,000 after purchasing an additional 9,496 shares during the period. Public Sector Pension Investment Board grew its stake in Restaurant Brands International by 36.4% in the second quarter. Public Sector Pension Investment Board now owns 600,000 shares of the restaurant operator’s stock worth $42,270,000 after purchasing an additional 160,000 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in Restaurant Brands International in the third quarter worth $257,000. Institutional investors own 82.29% of the company’s stock.

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.