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

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

A number of other brokerages have also commented on QSR. KeyCorp decreased their price objective on shares of Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Stifel Nicolaus decreased their price objective on shares of Restaurant Brands International from $77.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of Restaurant Brands International from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer reduced their target price on shares of Restaurant Brands International from $86.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, CIBC reduced their target price on shares of Restaurant Brands International from $88.00 to $86.00 and set an “outperformer” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.46.

Restaurant Brands International Trading Down 2.6 %

Shares of Restaurant Brands International stock opened at $60.94 on Wednesday. The stock has a market capitalization of $19.73 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. 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 company has a 50-day simple moving average of $67.53 and a 200 day simple moving average of $69.45. Restaurant Brands International has a 12-month low of $60.87 and a 12-month high of $83.29.

Restaurant Brands International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a $0.58 dividend. The ex-dividend date was Friday, December 20th. This represents a $2.32 annualized dividend and a dividend yield of 3.81%. Restaurant Brands International’s dividend payout ratio (DPR) is presently 58.15%.

Insider Activity at Restaurant Brands International

In other Restaurant Brands International news, insider Jill Granat sold 81,387 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $69.37, for a total transaction of $5,645,816.19. Following the sale, the insider now directly owns 388,759 shares in the company, valued at $26,968,211.83. This represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thiago T. Santelmo sold 3,511 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $64.20, for a total transaction of $225,406.20. Following the sale, the insider now owns 32,937 shares in the company, valued at $2,114,555.40. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,510 shares of company stock worth $7,774,020. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Restaurant Brands International by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,507 shares of the restaurant operator’s stock valued at $325,000 after buying an additional 210 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Restaurant Brands International in the 3rd quarter valued at approximately $378,000. Arvest Bank Trust Division bought a new position in Restaurant Brands International in the 3rd quarter valued at approximately $12,053,000. Toronto Dominion Bank raised its holdings in Restaurant Brands International by 0.5% in the 3rd quarter. Toronto Dominion Bank now owns 864,207 shares of the restaurant operator’s stock valued at $62,327,000 after buying an additional 4,702 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Restaurant Brands International by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,379,847 shares of the restaurant operator’s stock valued at $101,085,000 after buying an additional 126,600 shares during the last quarter. 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.