Restaurant Brands International (QSR) slides as investors weigh Popeyes weakness and cost outlook after Q1 report

Restaurant Brands International Inc. (QSR) is down 5.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The selloff appears tied to mixed read-through from Q1 results: strong Burger King momentum and overall growth were offset by a notable decline at Popeyes, plus attention on cost items and the company-owned “Restaurant Holdings” segment profitability. This could also be a “sell-the-news” reaction given the stock was trading near recent highs heading into earnings.

Details:

The company reported Q1 2026 consolidated comparable sales growth of 3.2% and system-wide sales growth of 6.2%.

Brand performance diverged: Burger King U.S. comparable sales increased (5.8% cited in the earnings materials), while Popeyes comparable sales declined 6.5%.

Company commentary highlighted timing of marketing-related spending as a factor in operating income dynamics, which may have raised near-term margin concerns.

2026 guidance reiterated key expense and investment ranges (including segment G&A, interest expense, and total capex/cash inducements), which may have reinforced a higher-cost narrative for some investors.

Sources:

PR Newswire, Restaurant Dive, TradingView News

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$QSR Insider Trading Activity

$QSR insiders have traded $QSR stock on the open market 61 times in the past 6 months. Of those trades, 0 have been purchases and 61 have been sales.

Here’s a breakdown of recent trading of $QSR stock by insiders over the last 6 months:

JOSHUA KOBZA (Chief Executive Officer) has made 0 purchases and 5 sales selling 228,915 shares for an estimated $17,048,326.
SAMI A. SIDDIQUI (Chief Financial Officer) has made 0 purchases and 7 sales selling 104,717 shares for an estimated $7,696,991.
JILL GRANAT (See Remarks) has made 0 purchases and 6 sales selling 68,765 shares for an estimated $5,030,643.
J PATRICK DOYLE (Executive Chairman) has made 0 purchases and 3 sales selling 43,597 shares for an estimated $3,042,919.
AXEL SCHWAN (Pres., Tim Hortons Americas) has made 0 purchases and 5 sales selling 42,985 shares for an estimated $2,921,529.
JACQUELINE FRIESNER (See Remarks) has made 0 purchases and 6 sales selling 37,318 shares for an estimated $2,738,645.
JEFFREY HOUSMAN (See Remarks) has made 0 purchases and 5 sales selling 35,023 shares for an estimated $2,503,349.
THOMAS BENJAMIN CURTIS (Pres., BK US & CA) has made 0 purchases and 6 sales selling 24,276 shares for an estimated $1,663,042.
THIAGO T SANTELMO (President, International) has made 0 purchases and 6 sales selling 18,381 shares for an estimated $1,326,677.
DUNCAN FULTON (Chief Corporate Officer) has made 0 purchases and 5 sales selling 15,613 shares for an estimated $1,065,985.
ALI HEDAYAT has made 0 purchases and 2 sales selling 7,000 shares for an estimated $509,418.
PETER PERDUE (President, Popeyes-US & Canada) has made 0 purchases and 5 sales selling 5,185 shares for an estimated $353,082.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

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$QSR Hedge Fund Activity

We have seen 290 institutional investors add shares of $QSR stock to their portfolio, and 186 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ROYAL BANK OF CANADA removed 4,526,875 shares (-19.6%) from their portfolio in Q4 2025, for an estimated $308,868,681
BANK OF MONTREAL /CAN/ added 3,096,353 shares (+25.5%) to their portfolio in Q4 2025, for an estimated $211,264,165
CAPITAL WORLD INVESTORS added 3,095,167 shares (+7.7%) to their portfolio in Q4 2025, for an estimated $211,183,244
TORONTO DOMINION BANK added 2,060,281 shares (+165.2%) to their portfolio in Q4 2025, for an estimated $140,572,972
FIERA CAPITAL CORP added 1,889,359 shares (+38.2%) to their portfolio in Q4 2025, for an estimated $128,910,964
EDGEPOINT INVESTMENT GROUP INC. added 1,741,795 shares (+11.7%) to their portfolio in Q4 2025, for an estimated $118,842,672
MORGAN STANLEY added 1,641,870 shares (+24.2%) to their portfolio in Q4 2025, for an estimated $112,024,790

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$QSR Analyst Ratings

Wall Street analysts have issued reports on $QSR in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Oppenheimer issued a "Outperform" rating on 11/25/2025

To track analyst ratings and price targets for $QSR, check out Quiver Quantitative's $QSR forecast page.

$QSR Price Targets

Multiple analysts have issued price targets for $QSR recently. We have seen 15 analysts offer price targets for $QSR in the last 6 months, with a median target of $84.0.

Here are some recent targets:

Dennis Geiger from UBS set a target price of $90.0 on 05/04/2026
John Zamparo from Scotiabank set a target price of $81.0 on 04/28/2026
John Ivankoe from JP Morgan set a target price of $80.0 on 04/24/2026
Jon Tower from Citigroup set a target price of $88.0 on 04/23/2026
Logan Reich from RBC Capital set a target price of $90.0 on 04/21/2026
Christopher Carril from Keybanc set a target price of $90.0 on 04/20/2026
Andrew M. Charles from TD Cowen set a target price of $76.0 on 04/14/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.