Curtis Thomas Benjamin, an officer at Restaurant Brands International Inc. (NYSE:QSR), recently reported a sale of company shares. On January 6, Benjamin sold 2,789 common shares at a price of $64.20 per share, totaling approximately $179,057. Following this transaction, Benjamin holds 58,317 shares directly. The sale occurred as QSR trades near its 52-week low of $63.09, with a current market capitalization of $28.46 billion and a P/E ratio of 15.73. InvestingPro analysis indicates the stock is currently undervalued based on its Fair Value assessment.
Additionally, on January 3, Benjamin acquired a variety of restricted and performance share units, which include 59 common shares, 22 restricted share units, and 383 performance share units. These units were acquired at no cost and are part of the company's equity compensation plan. The acquisitions were related to dividend equivalent rights and were not part of open market transactions. Notable for investors, QSR maintains a 3.67% dividend yield and has consistently paid dividends for 10 consecutive years. InvestingPro subscribers can access 8 additional key insights about QSR's financial health and market position through the comprehensive Pro Research Report.
In other recent news, Restaurant Brands International (RBI) has reported a modest growth in its third-quarter earnings for 2024, with a slight increase in comparable sales and a significant rise in net restaurant growth. 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. Despite a quarterly shortfall and the adjustment in full-year projections, RBI maintains optimism for its long-term financial health, projecting over 8% adjusted operating income growth.
Meanwhile, Bernstein, a prominent market analysis firm, released a statement focusing on the U.S. restaurant sector, highlighting Chipotle Mexican Grill (NYSE:CMG) and Wingstop (NASDAQ:WING) for their exceptional value propositions and industry outperformance. They also anticipate that an improving traffic environment could bolster Starbucks (NASDAQ:SBUX) and RBI's Burger King in their turnaround efforts. However, Bernstein advises caution regarding restaurant concepts with significant international exposure, such as Yum! Brands (NYSE:YUM), McDonald's (NYSE:MCD), and RBI.
These recent developments reflect RBI's resilience and strategic focus on digital sales, franchisee profitability, and international expansion. However, the company's performance in certain areas, such as Burger King and Popeyes in the U.S., has experienced a decline in comparable sales. Despite these challenges, RBI is optimistic about its long-term growth prospects and is focusing on improving performance in challenging markets.
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