RBI and Popeyes have yet to agree on a deal price, and there is no certainty that negotiations will continue, or that they will lead to any agreement, the people said.
The sources asked not to be identified because the matter is confidential. Royal Bank Of Canada increased their price target on shares of Restaurant Brands International from $49.00 to $54.00 and gave the company an "outperform" rating in a research note on Tuesday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company's 50-day moving average price is $48.90 and its 200 day moving average price is $46.74. The firm has a market capitalization of $15.73 billion and a P/E ratio of 55.96.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The company's profits tripled past year to $345.6 million. FMR LLC increased its position in shares of Restaurant Brands International by 1.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Restaurant Brands International by 21.4% in the fourth quarter. The company has been working to expand Tim Hortons' footprint in the USA and internationally.
Restaurant Brands International Inc (QSR.TO), the owner of Burger King and Tim Hortons, reported a higher-than-expected quarterly profit as comparable sales at its burger chain topped estimates and costs fell during the fourth quarter.
"I'm not a big fan of quick-service restaurants", he said.
Burger King's performance was in contrast to USA restaurant chains such as McDonald's Corp MCD.N , Dunkin Brands Inc DNKN.O and Yum Brands Inc YUM.N , which posted lower-than-expected comparable restaurant sales during the quarter. Our continued focus on guest satisfaction and value creation for all of our stakeholders has resulted in accelerated restaurant development and continued system-wide sales growth at both of our iconic brands, TIM HORTONS® and BURGER KING®.