Commodity Channel Index
|Bid||55.82 x 900|
|Ask||56.90 x 1000|
|Day's Range||54.32 - 56.02|
|52 Week Range||25.08 - 79.46|
|Beta (5Y Monthly)||1.37|
|PE Ratio (TTM)||24.11|
|Forward Dividend & Yield||2.08 (3.81%)|
|Ex-Dividend Date||Jun 16, 2020|
|1y Target Est||70.50|
Restaurant Brands (QSR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Popeyes Louisiana Kitchen, a subsidiary brand of Restaurant Brands International (NYSE: QSR) or RBI, is using its chicken sandwich profits as a springboard for a major makeover and global expansion. Upcoming plans include a push into new markets, further development in existing international markets, and a total redo of the look of everything from food wrappers to restaurant architecture and signage. Consumers' skyrocketing hunger for chicken sandwiches proved strong enough for Popeyes to come through even the COVID-19 pandemic relatively unscathed.
In this article we will take a look at whether hedge funds think Restaurant Brands International Inc (NYSE:QSR) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get […]
Restaurant Brands International (QSR) comps continue to benefit from robust digital platform.
COVID-19 has only slowed down fast food restaurant Popeyes so much, as its parent company Restaurant Brands reports their U.S. same store sales are up over 40%. Yahoo Finance's Heidi Chung breaks down the numbers on The Final Round.
Chowing down on chicken appears to be a nearly pandemic-proof trend in the U.S., as Restaurant Brands International (NYSE: QSR) reported today. The company detailed a more than 40% increase in same-store sales at Popeyes "as of the third full week in May." Even with the coronavirus on the loose in March, the restaurant's sales remained flat year over year rather than declining, unlike RBI's other major brands and its competitors. According to the same SEC filing, sales at Burger King and Tim Hortons, RBI's two other main brands, are still posting negative same-store sales figures year over year, but have improved from the second half of March.
Popeyes chicken sales made a massive comeback and surged in May, according to a new SEC filing. Yahoo Finance's Heidi Chung joins Zack Guzman to break down the details.
Pershing Square Capital Management hedge-fund manager Bill Ackman told investors on a call on Wednesday that he is dumping Warren Buffett’s Berkshire Hathaway. The stocks he bought more of and is keeping are worth paying attention to.
Popeyes chicken sales made a massive comeback and surged in May, according to a new SEC filing.
Billionaire hedge fund manager Bill Ackman said that his Pershing Square Capital Management Ltd. has exited investments in Warren Buffett’s Berkshire Hathaway, the Blackstone Group Inc. (BX) and Park Hotels & Resorts (PK).Pershing Square’s stock holding in Berkshire was valued at about $1 billion as of the end of March. Ackman divested the Blackstone position as shares have soared about 57% over the past two months, erasing all of their losses from earlier this year.Despite strong stock market volatility triggered by the coronavirus pandemic, Pershing’s portfolio this year returned 27% on its investments as of May 26.Speaking on an investor conference call, Ackman said that Pershing Square has about 85% to 98% of its assets invested in its funds and is holding cash positions of between 15% and 20%.“We think it's a very different environment than when we made the investment in Berkshire a year ago”, said partner Ryan Israel, who oversaw Pershing’s Berkshire investment, on the investor call. “We continue to think Berkshire will be a strong investment over the longer term, but we also think the current environment means there may be more than typical opportunities for us to see very high-returning investments and we wanted to make sure we have enough cash.”At the beginning of the year, Ackman moved to protect the firm’s stock portfolio against coronavirus-related panic selling in markets by buying credit default swaps. Pershing Square yielded a stellar $2.6 billion from hedging its stock portfolio through the credit protection.Ackman said that today, “we have $10 billion of capital to invest; we can be much more nimble," adding that he wants to “take advantage of that nimbleness, preserve some extra liquidity in the event that prices get more attractive again."The billionaire investor informed investors that Pershing increased its positions in Agilent Technologies Inc. (A) by 16% at an average price of $64.57, while the stock is now trading at $86.18 a share. He also ramped up the portfolio’s stakes in Lowes Companies (LOW) at $84 a share (now trades at $128 a share), Howard Hughes, Restaurant Brands International (QSR), as well as rebuilt the Starbucks position at $60 a share. Shares in the coffee chain are currently trading at $78.60.“So far so good,” Ackman said. “Everything we currently own is undervalued.”Some analysts view Blackstone as a worthwhile investment. CFRA recently upgraded Blackstone to Buy from Hold, citing the company’s attractive valuation. “We view positively the secular growth opportunities at Blackstone, evidenced by 2019 asset inflows that topped $134 billion” CFRA said.“Though near-term results could be uneven amid market uncertainty and volatility, demand for private-equity investments will be fueled by the persistently low interest-rate environment” the firm explained, adding that Blackstone is also poised to deploy its more than $150 billion of unallocated capital in a marketplace where asset values have become more attractive.Shares in Blackstone rose less than 1% to $56.46 as of Wednesday’s close.Turning now to the Street’s outlook on Blackstone stock, TipRanks data shows that Wall Street analysts are still cautiously optimistic. The Moderate Buy consensus consists of 8 Buy and 4 Hold ratings. However, in view of the recent share rally, the $53.85 average price target now implies 4.6% downside potential over the coming year. (See Blackstone stock analysis on TipRanks).Related News: Gates Foundation Buys Up Amazon, Apple, Twitter Stock; Trims Berkshire Hathaway Stake Billionaire Ackman Takes New Bet On Blackstone, Trims Chipotle Stake Buffett’s Berkshire Shaves Off 84% Of Its Goldman Sachs Stake More recent articles from Smarter Analyst: * Gilead Sinks 3% On New Remdesivir Data; Analysts Stay Sidelined * Coty Names Chairman Peter Harf As CEO To Steer Strategic Turnaround; Shares Pop 18% * Abiomed’s Heart Pump Gets FDA Emergency Use Status For Covid-19 Patients * Eli Lilly’s Taltz Injection Gets FDA Nod For Inflammatory Spine Arthritis Treatment
As the rest of the restaurant industry reels from the impact of COVID-19, pizza chains are coming out on top.
Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) announced today that the company will participate in the virtual Bernstein Strategic Decisions Conference on Thursday, May 28, 2020 at 3:00 PM Eastern Time.
KFC is jumping into the chicken sandwich wars with a new chicken sandwich test.
Turning its attention to the "fried chicken sandwich wars," Yum! Brands (NYSE: YUM) subsidiary KFC will start testing an upgraded chicken sandwich today in Orlando, Florida. The bigger, better chicken offering costs $3.
Kentucky Fried Chicken on Tuesday will begin testing an overhauled sandwich featuring a bigger chicken filet and other modifications that could reignite last year's Great Chicken Sandwich Wars with rivals Popeyes and Chick-fil-A. Brands Inc, will sell the new version of its chicken sandwich for 26 days - or until supplies run out - at 15 locations in and around Orlando, Florida for $3.99. The larger chicken filet will come on a brioche bun with thick pickle slices and mayonnaise.
Online access to the meeting will begin at 7:45 a.m. Eastern Time . You will not be able to attend the Meeting in person. If you were a holder of record of common shares of Restaurant Brands International Inc., at the close of business on April 15, 2020 (the "Record Date") (i.e., you held your shares in your own name as reflected in the records of our transfer agent, Computershare), you can attend the Meeting online by accessing https://web.lumiagm.com/271571453 and entering the 15-digit control number on the Proxy Card or Notice of Availability of Proxy Materials you previously received and the meeting password, restbrand2020 (case sensitive).
Fast food giant Taco Bell is ramping up hiring and announced today that it will be hiring 30,000 workers this summer.
The restaurant sector will take time to recover from the economic fallout of COVID-19, but McDonald’s (MCD) is well positioned long term, says one analyst.
The probability that U.S. restaurants will default has soared in recent weeks as a result of the devastating COVID-19 pandemic, according to S&P Global Market Intelligence.
U.S. President Donald Trump met with restaurant and industry experts Monday, including Restaurant Brands International Inc (NYSE: QSR) CEO Jose Cil who described the gathering as "extraordinary."What Happened Restaurant leaders were given the opportunity to "share all of our experiences" over the past 60 days and "all the challenges we are facing," Cil said on CNBC's "Closing Bell."One of the common themes across the participants was the importance of the Paycheck Protection Program (PPP) for franchisees who are small business owners, he said. The industry executives also pitched on how the PPP can be improved, including an extension of the eight-week deadline to spend the loans to 24 weeks, the CEO said. The extension would give franchisees in areas that are slower to re-open more time to rehire staff, he said. "It was very feasible and I think very executable to extend the timeline." Why It's Important The White House was "very open" to the idea of extending the eight week deadline although there is a "political process" that needs to take place before changes are made into law, Cil said.Yet it comes down to a "technical adjustment" to the regulations, so the restaurant group is "hopeful," the CEO said. What's Next For Restaurant Brands More than 10,000 of the company's Burger King, Popeyes and Tim Hortons' chains remained open for business across North America throughout the start of the pandemic, Cil said.While the service was limited to off-premise dining, around 1,200 restaurants are either fully open or planning for a reopening, he said. It's difficult to offer any specific outlook moving forward other than to say the company is "really optimistic, really excited," Cil said.Restaurant Brands shares were down 1.97% at $51.36 at the time of publication Tuesday.Related Links:April's Restaurant Data Far From Encouraging, But There Is HopeChecking In On Restaurants Amid The Coronavirus Lockdown: Cousins SubsSee more from Benzinga * Bored Of Reheated Pasta? Benzinga's Top Foods To Order Or Cook Has You Covered * 7 New Food Items We Can't Wait To Eat: Shackburger, Big King XL And More * 6 Fast Food Deals And 5 Home Cooking Inspirations(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Restaurant executives pressed President Donald Trump on Monday to extend a deadline for spending small-business loans to 24 weeks from the current eight weeks, as states around the country were gradually opening up from lockdowns imposed amid the coronavirus pandemic.
States across the U.S. are beginning to reopen parts of their economies, and a surprising number of consumers are willing to visit restaurants as soon as they reopen, according to a new survey by Piper Sandler.