|Bid||72.63 x 1000|
|Ask||72.96 x 900|
|Day's Range||72.54 - 73.73|
|52 Week Range||50.20 - 79.46|
|Beta (3Y Monthly)||0.91|
|PE Ratio (TTM)||32.37|
|Forward Dividend & Yield||2.00 (2.77%)|
|1y Target Est||70.50|
Popeyes is telling its customers to BYOB, but it is not what you’re thinking. Try our new BYOB! It’s basically The Sandwich! Only no mayo. The company says it is allowing guests bring in their own buns, order its three-piece chicken tends and make their own chicken sandwiches on the spot.
In the age of the fried chicken wars, Chick-fil-A is again hoping to differentiate itself from the competition with an "industry-changing" move.
Restaurant stocks closed lower on Tuesday as the fight to win the morning traffic intensified. Wendy’s will expand its breakfast menu nationwide in 2020.
Readers hoping to buy Restaurant Brands International Inc. (NYSE:QSR) for its dividend will need to make their move...
Coca-Cola's fruit-flavored soda Fanta is "reinventing itself" for today's teenagers with an marketing campaign focused on technology and personality. The result includes a DJ cat in a convenience store and an 8-bit videogame-ified pizza parlor.
The sandwich’s launch and subsequent Twitter debate was a viral sensation that disrupted the fast food industry and likely will shape the outcome of third quarter results for some of the largest players, one analyst says.
Restaurant Brands International Inc (NYSE: QSR )'s Popeye's concept realized a notable benefit in trends when its chicken sandwich took the country by storm. But did it have any impact on rivals? The Analyst ...
Investors might be wondering what Beyond Meat (BYND), Kellogg (K) and Restaurant Brands International (QSR) all have in common. The answer is that each wants to control the plant-based meat segment of the market.With Barclays predicting that plant-based product sales will reach $140 billion in the next decade, it’s no wonder food companies are expanding their product offerings to include meatless alternatives. Bearing this in mind, we used the TipRanks Stock Comparison tool to see which stock serves up the most compelling investment opportunity. Let’s get started. Beyond Meat Inc. (BYND)It’s no question that Beyond Meat has disrupted the vegan food market. The first plant-based meat producer has skyrocketed 136% since its May 2 IPO. BYND already boasts Dunkin (DNKN) and Kentucky Fried Chicken (YUM) as partners, with its products also appearing in many grocery stores. That being said, analysts aren’t convinced that BYND has what it takes to outperform in the long-run.The fact is, plant-based meat isn’t a patented technology, with several companies following BYND’s lead by adding their own vegan meat options. Kroger (KR) announced on September 5 that it was launching plant-based deli meats and sausages under its Simple Truth brand. One analyst argues that its fast-growing retail presence, attractive placement and favorable media impressions won’t be enough to shield BYND from the competition. D.A. Davidson’s Brian Holland states that its larger competitors have the resources and pricing power that BYND just doesn’t have. It doesn’t help that BYND has a valuation problem. “We estimated EV/Sales on fiscal 2024 estimates of $1.2089 billion and discounted back. This multiple is already a 50% premium to Beyond Meat's Growth Staples peers and compares to the stock's current multiple of 29.5 times NTM revenue,” Holland noted. Based on all of the above factors, the analyst initiated coverage with a Sell and set a $130 price target on September 5. He thinks that share prices could drop 16% in the next twelve months. All in all, Wall Street analysts deem BYND a ‘Hold’. Its $124 average price target indicates 20% downside potential. Kellogg (K)Kellogg is one of the many companies trying to take market share from BYND. The company announced on September 4 that it is launching its plant-based meat, Incogmeato, in early 2020. These burgers will be released under the MorningStar brand and are different from its existing veggie burgers as they are fully plant-based. K will also start selling plant-based chicken nuggets and tenders.In addition to its foray into the plant-based food space, Kellogg has pivoted away from its legacy cereal-first approach with it shifting focus towards the snack segment of its business. In January, the company started selling Cheez-It Snap’d as well as launched Pop-Tart Bites and Rice Krispie Treat Poppers in 2018. Not to mention the company already added protein bars to the product lineup with its $600 million acquisition of RXBAR in 2017.While some analysts think K's upside has already been factored into the share price, Goldman Sachs analyst Jason English argues that these positive developments could drive a profit margin improvement as well as stronger organic sales. “A number of changes have occurred at the company in recent years that we believe will sustain a faster growth trend at K than the company has been able to historically achieve; primarily a strategic pivot to snacks (vs. its legacy cereal-first approach) and completed M&A (albeit at lofty valuations) which has bolstered its EM exposure,” he explained. As a result, he upgraded the stock from a Hold to a Buy while raising the price target from $58 to $72 on September 6. The new price target demonstrates his confidence that shares could surge 12% over the next twelve months. Wall Street isn’t as bullish on Kellogg. 4 Buy ratings versus 7 Holds and 2 Sells assigned over the last three months add up to a ‘Hold’ analyst consensus. Its $65 average price target suggests 2% upside potential. While this upside is minor, K still boasts better growth prospects than BYND. Restaurant Brands International (QSR)The last stock on our list is known as the force behind Burger King, Tim Hortons and Popeyes, with it also hoping to ride the vegan wave.In the beginning of August, Burger King launched its plant-based burger at over 7,000 U.S. locations. The Impossible Whopper is the product of its partnership with Impossible Foods, a top Beyond Meat rival. According to Cowen & Co. analyst Andrew Charles, the Impossible Whopper could drive 6% same-store sales growth in the third quarter at Burger Kings located throughout the U.S. The plant-based burger is convincing consumers to spend more as orders with the Impossible Whopper cost $10 or higher, compared to Burger King's average check of $7.36 in 2018. “While data is limited, our check suggests Impossible Whopper is attracting new and lapsed users to the brand that skew younger and affluent, as well as driving high rates of repeat orders," Charles added. Investors have more reason to be excited about QSR thanks to its new Popeye’s chicken sandwich launch. After its widely successful August 12 launch left several locations sold out, management stated it blew through the inventory of chicken filets a month ahead of schedule thanks to intense social media buzz. All of this played into Charles’ conclusion that QSR is poised to soar. As a result, the five-star analyst reiterated his Buy rating and $85 price target on August 29. He believes shares could gain 13% over the next twelve months.Wall Street appears to mirror the analyst’s sentiment. QSR boasts a ‘Strong Buy’ analyst consensus and an $82 average price target, implying 8% upside potential. The Bottom LineThe results are in and according to Wall Street analysts, QSR is the top pick. While the Stock Comparison tool shows that BYND's gain was the largest, QSR is the long-term winner as it comes out on top in terms of both analyst consensus as well as upside potential. Find Wall Street’s most loved stocks with the Top Analysts’ Stocks tool
TORONTO , Sept. 6, 2019 /CNW/ - Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX: QSP), 1011778 B .C. Unlimited Liability Company (the "Issuer") and New Red Finance, Inc. (the "Co-Issuer" and, together with the Issuer, the "Issuers") announced today that the Issuers priced their previously announced offering of $500 million aggregate principal amount of 3.875% First Lien Senior Secured Notes due 2028 (the "2019 Senior Notes") and upsized the offering of the 2019 Senior Notes from an aggregate principal amount of $500 million to $750 million . The 2019 Senior Notes will have a maturity date of January 15, 2028 . The close of the 2019 Senior Notes is expected to be completed on or about September 24, 2019 .
(Bloomberg) -- There’s been a frenzy over Popeyes’s chicken sandwiches. Now the craze is spilling over to its bonds.Restaurant Brands International Inc., the owner of Popeyes, sold $750 million of debt Friday in an upsized deal at some of the cheapest rates ever for a junk-rated bond, according to people with knowledge of the matter who asked not to be identified because the information is private. The 3.875% yield is the lowest for securities maturing in eight years or more in the U.S. high-yield market since at least 2014, according to data compiled by Bloomberg.“This is a good data point for just how stretched the search for yield is globally,” said John McClain, a high-yield portfolio manager at Diamond Hill Capital Management. “Every stone has been overturned.”The price underscores how hungry investors are to get their hands on higher paying securities, especially ones with BB ratings that carry less risk than the most speculative of junk bonds. Earlier this week another food-related seller, Yum! Brands Inc., priced $800 million of debt in an upsized deal to pay 4.75%. Those bonds are now quoted at about 102 cents on the dollar.Popeyes sold out of its famous chicken sandwich in late August -- just two weeks after its launch -- as crowds descended on its stores, eager to try a menu item that had become a social-media sensation.(Updates bond size and pricing in second paragraph.)\--With assistance from Lisa Lee.To contact the reporters on this story: Sally Bakewell in New York at firstname.lastname@example.org;Gowri Gurumurthy in New York at email@example.comTo contact the editors responsible for this story: Natalie Harrison at firstname.lastname@example.org, Boris Korby, Allan LopezFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service ("Moody's") today upgraded 1011778 B.C. Unlimited Liability Co. ("1011778 B.C.") Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD from B1-PD, senior secured first lien bank ratings and senior secured first lien note ratings to Ba2 from Ba3, and secured second lien notes rating to B2 from B3. Moody's also upgraded Tim Hortons Inc.'s senior unsecured legacy notes rating to B1 from B2.
TORONTO , Sept. 6, 2019 /PRNewswire/ - Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX: QSP), 1011778 B .C. Unlimited Liability Company (the "Issuer") and New Red Finance, ...
A tiny club in the corporate bond market could soon admit a new member in Restaurant Brands, owner of chain restaurants like Popeyes and Burger King, which is expected to issue a junk-rated bond on Friday with a coupon below 4 per cent. The unusually low borrowing cost for the company exemplifies the hunger among investors to own US corporate bonds after a global bond rally starved them of yield across the rest of the world. The 8.5-year, $500m bond was marketed by bankers with a coupon of 3.875 per cent, according to people familiar with the deal.
Popeyes' viral chicken sandwich is suffering a shortage, but the Cajun fast-food chain has a solution for customers: bring your own bun. Yahoo Finance's Jennifer Rogers, Myles Udland, and Rick Newman discuss.
Popeye's chicken sandwich was the fast food talk of the summer, after it ran out in record time. The sandwich was so successful that it is prompting an upgrade to the stock. Yahoo Finance’s Dan Roberts, Scott Gamm, Brian Sozzi and Anjalee Khemlani discuss.
One analyst says Popeyes was moving a thousand of the chicken sandwiches per day, accounting for 30% of their sales. The sandwich, that sparked a twitter feud with Chick-Fil-A, sold out within days. Yahoo Finance’s Brian Sozzi, Heidi Chung and Alexis Christoforous discuss.