Same-Store Sales and Unit Growth Accelerate as RBI Potentially Positions Itself for M&A
We have three investor takeaways following narrow-moat Restaurant Brands International's Jan. 23 preannouncement and management change update, highlighted by preliminary fourth-quarter same-store sales growth (1.7% at Burger King, 1.9% at Tim Hortons, and 0.1% at Popeyes), the transition of CEO Daniel Schwartz to executive chairman and the appointment of Jose Cil as CEO, and an 11% increase in the annual dividend to $2.00 per share in 2019 (representing a yield of just over 3%).First, Tim Hort...
Restaurant Brands International is a holding company. Through its subsidiaries, Co. is engaged as a quick service restaurant (QSR) company with over 20,000 restaurants in approximately 100 countries and U.S. territories as of Dec 31 2016. Co.'s Tim Hortons® and Burger King® brands have similar franchise business models with complementary daypart mixes. Tim Hortons restaurants are QSRs with a menu that includes coffee, tea, espresso-based hot and cold drinks, baked goods, including donuts, Timbits®, bagels, sandwiches, soups and more. Burger King restaurants are QSRs that feature flame-grilled hamburgers, chicken and other sandwiches, french fries, soft drinks and other food items.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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