Jacqueline Friesner, an executive at Restaurant Brands International Inc. (NYSE:QSR), reported the sale of 4,856.8677 common shares on January 6, 2025, at a price of $64.20 per share. This transaction amounted to a total of $311,810. The sale comes as QSR trades near its 52-week low of $63.09, with the stock currently at $63.14. According to InvestingPro analysis, QSR shows signs of being undervalued, with additional ProTips available for subscribers. Following this sale, Friesner holds approximately 160,810 shares directly.
In addition to the sale, Friesner acquired a small number of shares through dividend equivalent rights and performance-based restricted share units on January 3, 2025. These acquisitions were reported at no cost, reflecting the vesting of previously awarded shares. The executive's position in the company, as of the latest filing, includes various options and restricted share units that remain in place.
In other recent news, Restaurant Brands International (RBI) has reported modest growth in its third quarter of 2024 earnings, with a slight 0.3% increase in comparable sales and a notable rise in net restaurant growth. This comes after Bernstein, a market analysis firm, highlighted the potential of RBI's Burger King for a turnaround amid an improving traffic environment in the restaurant sector. Despite industry-wide challenges, RBI has maintained its long-term financial health projections, targeting over 8% adjusted operating income growth.
In addition, RBI has seen an uptick in same-store sales across its portfolio, transitioning from roughly flat to the low single-digit positive range. This improvement was led by the International, Burger King, and Popeye's segments. However, RBI's Burger King and Popeyes in the U.S. experienced a decline in comparable sales.
KeyBanc has adjusted its outlook on RBI, reducing the price target to $78 from the previous $80 while maintaining an Overweight rating on the stock. This follows RBI's third-quarter results for 2024, which did not meet consensus forecasts. Despite the adjustments, KeyBanc suggests that RBI's current trading price does not fully reflect the company's long-term growth potential.
Lastly, Bernstein advises caution regarding restaurant concepts with significant international exposure, such as RBI. However, the firm expresses a preference for RBI, noting that its relatively lower valuation may already reflect negative market sentiment. These are recent developments in the restaurant sector and RBI's performance.
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