Restaurant Brands International
About: Restaurant Brands International is one of the largest restaurant companies in the world, with approximately $44 billion in 2024 systemwide sales across a footprint that spanned more than 32,000 restaurants and more than 100 countries. The firm generates revenue primarily from retail sales at its company-owned restaurants, royalty fees and lease income from franchised stores, and from its Tim Hortons supply chain operations. Formed in 2014 after 3G Capital's acquisition of Tim Hortons International, the RBI portfolio is split among Burger King (7,082 units), Tim Hortons (4,539 units), Popeyes Louisiana Kitchen (3,520 units), Firehouse Subs (1,345 units), and international franchise units of those banners (15,639) as of year-end 2024.
Employees: 37,600
Fund manager confidence
Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
203% more call options, than puts
Call options by funds: $306M | Put options by funds: $101M
3% less repeat investments, than reductions
Existing positions increased: 154 | Existing positions reduced: 159
3% less funds holding
Funds holding: 458 [Q3] → 442 (-16) [Q4]
3.5% less ownership
Funds ownership: 84.97% [Q3] → 81.47% (-3.5%) [Q4]
11% less capital invested
Capital invested by funds: $19.4B [Q3] → $17.2B (-$2.23B) [Q4]
19% less first-time investments, than exits
New positions opened: 44 | Existing positions closed: 54
25% less funds holding in top 10
Funds holding in top 10: 12 [Q3] → 9 (-3) [Q4]
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
Truist Securities Jake Bartlett 25% 1-year accuracy 17 / 68 met price target | 21%upside $78 | Buy Maintained | 22 Apr 2025 |
Wells Fargo Zachary Fadem 42% 1-year accuracy 15 / 36 met price target | 2%upside $66 | Equal-Weight Maintained | 22 Apr 2025 |
Baird David Tarantino 55% 1-year accuracy 17 / 31 met price target | 1%upside $65 | Neutral Maintained | 7 Apr 2025 |
Guggenheim Gregory Francfort 54% 1-year accuracy 7 / 13 met price target | 20%upside $77 | Buy Maintained | 4 Apr 2025 |
JP Morgan John Ivankoe 62% 1-year accuracy 18 / 29 met price target | 21%upside $78 | Overweight Maintained | 20 Mar 2025 |
Financial journalist opinion
Based on 9 articles about QSR published over the past 30 days









