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 cut by investment analysts at Wells Fargo & Company from $72.00 to $69.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.15% from the stock’s current price.

QSR has been the topic of several other reports. KeyCorp cut their target price on Restaurant Brands International from $80.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Oppenheimer decreased their target price 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 boosted their price target on shares of Restaurant Brands International from $76.00 to $77.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Argus decreased 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. Finally, TD Cowen cut their price target on shares of Restaurant Brands International from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.62.

Restaurant Brands International Price Performance

Shares of NYSE:QSR traded down $0.50 during trading on Wednesday, hitting $62.64. 518,590 shares of the company were exchanged, compared to its average volume of 1,183,191. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 2.75. Restaurant Brands International has a 1-year low of $62.19 and a 1-year high of $83.29. The company has a market capitalization of $20.29 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The business’s 50 day moving average is $68.00 and its 200-day moving average is $69.61.

Insider Buying and Selling

In other news, CEO Joshua Kobza sold 12,420 shares of Restaurant Brands International stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $64.20, for a total transaction of $797,364.00. Following the completion of the sale, the chief executive officer now owns 703,445 shares in the company, valued at approximately $45,161,169. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jill Granat sold 10,613 shares of Restaurant Brands International stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $70.41, for a total transaction of $747,261.33. Following the sale, the insider now owns 388,759 shares of the company’s stock, valued at approximately $27,372,521.19. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,510 shares of company stock valued at $7,774,020. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Restaurant Brands International

A number of hedge funds have recently made changes to their positions in QSR. Wilmington Savings Fund Society FSB bought a new position in shares of Restaurant Brands International in the third quarter worth approximately $378,000. Arvest Bank Trust Division purchased a new position in shares of Restaurant Brands International in the third quarter valued at about $12,053,000. Toronto Dominion Bank raised its stake in shares of Restaurant Brands International by 0.5% during the third quarter. Toronto Dominion Bank now owns 864,207 shares of the restaurant operator’s stock valued at $62,327,000 after acquiring an additional 4,702 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Restaurant Brands International by 10.1% during 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. Finally, Vestcor Inc bought a new stake in shares of Restaurant Brands International in the third quarter worth about $1,103,000. 82.29% of the stock is currently owned by institutional investors.

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.