Fintel reports that on August 22, 2023, Northcoast Research upgraded their outlook for Restaurant Brands International (NYSE:QSR) from Neutral to Buy.
Analyst Price Forecast Suggests 12.72% Upside
As of August 2, 2023, the average one-year price target for Restaurant Brands International is 78.16. The forecasts range from a low of 64.64 to a high of $93.45. The average price target represents an increase of 12.72% from its latest reported closing price of 69.34.
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The projected annual revenue for Restaurant Brands International is 6,787MM, an increase of 0.10%. The projected annual non-GAAP EPS is 3.04.
What is the Fund Sentiment?
There are 668 funds or institutions reporting positions in Restaurant Brands International. This is an increase of 11 owner(s) or 1.67% in the last quarter. Average portfolio weight of all funds dedicated to QSR is 0.35%, a decrease of 0.46%. Total shares owned by institutions decreased in the last three months by 5.35% to 300,586K shares. The put/call ratio of QSR is 0.71, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 41,732K shares representing 13.36% ownership of the company. In it’s prior filing, the firm reported owning 41,508K shares, representing an increase of 0.54%. The firm increased its portfolio allocation in QSR by 8.02% over the last quarter.
Pershing Square Capital Management holds 23,348K shares representing 7.48% ownership of the company. In it’s prior filing, the firm reported owning 24,194K shares, representing a decrease of 3.62%. The firm increased its portfolio allocation in QSR by 5.24% over the last quarter.
Royal Bank Of Canada holds 22,319K shares representing 7.15% ownership of the company. In it’s prior filing, the firm reported owning 22,649K shares, representing a decrease of 1.48%. The firm decreased its portfolio allocation in QSR by 88.64% over the last quarter.
Capital Research Global Investors holds 19,899K shares representing 6.37% ownership of the company. In it’s prior filing, the firm reported owning 18,548K shares, representing an increase of 6.79%. The firm increased its portfolio allocation in QSR by 16.30% over the last quarter.
EdgePoint Investment Group holds 13,554K shares representing 4.34% ownership of the company. In it’s prior filing, the firm reported owning 14,008K shares, representing a decrease of 3.34%. The firm increased its portfolio allocation in QSR by 0.18% over the last quarter.
Restaurant Brands International Background Information
(This description is provided by the company.)
Restaurant Brands International Inc. (‘RBI’) is one of the world’s largest quick service restaurant companies with approximately $31 billion in annual system-wide sales and 27,000 restaurants in more than 100 countries and U.S. territories. RBI owns three of the world’s most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, and POPEYES®. These independently operated brands have been serving their respective guests, franchisees and communities for over 45 years.
This article originally appeared on Fintel
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