Dernières nouvelles pour Restaurant Brands Intl (NYSE:QSR) Stock

Restaurant Brands Intl

Restaurant Brands International is one of the largest restaurant companies in the world, with approximately $43 billion in 2023 systemwide sales across a footprint that spanned more than 31,000 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 (7,144 units), Tim Hortons (4,525 units), Popeyes Louisiana Kitchen (3,394 units), Firehouse Subs (1,265 units), and international franchise units of those banners (14,742) as of year-end 2023.

Restaurant Brands International Inc. Common Shares

Restaurant Brands International Inc

Barclays analyst Jeffrey A. Bernstein has outlined top themes to watch out for in the U.S. restaurants in 2025.
The restaurant industry, according to the analyst, is experiencing mixed results as it navigates a volatile environment heading into the third quarter of 2024.
A recent preview highlighted that many companies have struggled to meet expectations regarding same-store sales and earnings per share, noted the analyst.
Despite these challenges, most have shared optimistic outlooks on recent sales trends.
As 2024 progresses, the key focus remains the consumer outlook, which has been unpredictable. On a positive note, unemployment rates remain near record lows, and wages continue to rise, contributing to a healthy increase in real disposable income, the analyst added.
Inflation has also eased, allowing the Federal Reserve to slow down its rate changes, said the analyst.
However, the analyst warned that the cost of living, including high rent and basic expenses, continues to pressure consumers.
Consumer confidence has remained lower than pre-pandemic levels, and many restaurants are working to improve traffic by offering greater value in response to inflation concerns.
Commodity inflation, excluding coffee, has shown signs of normalization and December 2024 saw a year-on-year increase of around 16%, mainly driven by coffee prices, asserted the analyst.
Restaurants are expecting mid-single-digit inflation in 2025, assuming current prices hold and the industry is hoping for a more stable cost environment that can support margins amidst uncertain sales projections, added the analyst.
The analyst expressed concern about labor costs and said while wage inflation has slowed from the peaks seen during 2021 and 2022, December 2024 saw a year-on-year wage increase of 10.3%.
In menu pricing, restaurants are easing the aggressive price hikes seen in recent years and overall, the industry is moving towards smaller price increases as commodity and labor inflation stabilizes, said the analyst.
The analyst upgraded both Shake Shack Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) and Dutch Bros Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>) to Overweight from Equal Weight.
The analyst downgraded Bloomin&#8217; Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMN#NASDAQ">BLMN</a>) and Dine Brands Global Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIN#NYSE">DIN</a>) to Equal Weight from Overweight.
Photo via Shutterstock.

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Easing Inflation Brings Hope To Restaurants In 2025 But Uncertainty Lingers: Analyst Upgrades Shake Shack And Dutch Bros

Oppenheimer analyst Brian Bittner maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperform and lowers the price target from $86 to $77.

Price Target

Oppenheimer Maintains Outperform on Restaurant Brands Intl, Lowers Price Target to $77

RBI Suggests Shareholders Reject New York Stock And Bonds Mini-Tender Offer; Offer To Purchase 10K Shares At $45/Share

https://www.cnbc.com/2024/11/20/mcdonalds-preparing-mcvalue-offering-for-2025.html#:~:text=McDonald's%20is%20working%20on%20a,%E2%80%9D%20option%2C%20CNBC%20has%20learned.

"McDonald's Plans 2025 'McValue' Initiative With $5 Meal Deal And 'Buy One Add One' Option" - CNBC

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.
Third Quarter Exits: Viking Fund Management sold out of eight stocks completely in the third quarter, including positions in some of the largest oil companies.
Here are the positions exited, as <a href="https://13f.info/13f/000116906924000080/compare/000116906924000006">reported </a>by 13finfo:
<ul>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</li>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>)</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</li>
<li>Sociedad Quimica y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>)</li>
<li>Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>)</li>
<li>Sanofi SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NYSE">SNY</a>)</li>
<li>Cactus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>)</li>
</ul>
Third Quarter New Positions: The following were the new stocks added to the fund in the third quarter, ranked in size by the dollar value at the end of the quarter.
<ul>
<li>Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>)</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</li>
<li>HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>)</li>
<li>Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>)</li>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>)</li>
<li>Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>)</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>)</li>
<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</li>
<li>Portland General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</li>
<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Nutrien (NTR.TO – Canada)</li>
</ul>
 Big Moves: The fund made several changes to its existing positions alongside the new positions and exited positions.
Here are the biggest additions in the quarter to existing stakes:
<ul>
<li>Civitas Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>): +16,900%</li>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +882%</li>
<li>LyondellBassell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>): +400%</li>
<li>Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>): +386%</li>
<li>Dow Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>): +200%</li>
</ul>
Here are the biggest position cuts during the quarter to existing stakes:
<ul>
<li>Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): -60%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -50%</li>
<li>Haliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>): -40%</li>
<li>ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): -36%</li>
<li>Ovintiv (OVV.TO – Canada): -33%</li>
</ul>
Why It's Important: At the end of the quarter, these are the fund's largest positions ranked by dollar value and the percentage they make up of the fund:
<ul>
<li>Broadcom: $27.96 million, 4.5%</li>
<li>AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): $24.88 million, 4.0%</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): $22.65 million, 3.7%</li>
<li>Entergy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>): $16.27 million, 2.6%</li>
<li>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>): $14.24 million, 2.3%</li>
</ul>
The fund added significantly to its position in Broadcom, which remains the largest holding.
The quarter saw the sale of several oil stocks, but the fund opened new positions in several energy names in the quarter.
Photo: Shutterstock

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Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom

Stifel analyst Chris O'Cull maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Hold and lowers the price target from $77 to $72.

Stifel Maintains Hold on Restaurant Brands Intl, Lowers Price Target to $72

Argus Research analyst John Staszak maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Buy and lowers the price target from $85 to $80.

Argus Research Maintains Buy on Restaurant Brands Intl, Lowers Price Target to $80

TD Cowen analyst Andrew Charles maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Buy and lowers the price target from $82 to $80.

TD Cowen Maintains Buy on Restaurant Brands Intl, Lowers Price Target to $80

CIBC analyst John Zamparo maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperformer and lowers the price target from $88 to $86.

CIBC Maintains Outperformer on Restaurant Brands Intl, Lowers Price Target to $86

Shares of Restaurant Brands International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) continued to slide in early trading on Wednesday, after the company reported <a href="https://www.benzinga.com/news/earnings/24/11/41742557/burger-king-parent-restaurant-brands-stock-slips-on-q3-earnings-miss-on-track-to-deliver-8-system-w">downbeat third-quarter earnings</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
RBC Capital Markets On Restaurant Brands International
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6645dc02eba8c50001257ef4/logan-reich">Analyst Logan Reich</a> maintained an Outperform rating, while reducing the price target from $95 to $90.
Restaurant Brands International's third-quarter revenues and EBITDA missed consensus by 2.5% and 1.2%, respectively, Reich said in a note. The company's revenue shortfall was due to lower same-store sales "across every brand," he added.
Same-store sales trends improved in October, driven by Burger King, Popeyes Louisiana Kitchen and the international segment, with consumer pressures "abating to some degree," the analyst stated. "Further, the company continues to demonstrate their ability to manage expenses in a challenging macro which could give investors confidence in some level of earnings support next year even if macro is worse than expected," he wrote.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
KeyBanc Capital Markets On Restaurant Brands International
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58e64302b85e9300014c97e6/eric-gonzalez">Analyst Eric Gonzalez</a> reaffirmed an Overweight rating, while cutting the price target from $80 to $78.
Restaurant Brands International results missed consensus on macro pressures and competitive challenges, Gonzalez said. Management lowered full-year outlook for systemwide sales to 5%-5.5% and unit growth to around 3.5%, he added.
"However, it continues to see 8% + adj. operating income growth and reaffirmed its five-year outlook, including 8%+ systemwide sales growth and 5% unit growth on average through 2028," the analyst wrote. He added that same-store sales improved across the portfolio in October, from around flat to the low single-digit range.
QSR Price Action: Shares of Restaurant Brands International were flat at $68.17 at the time of publication on Wednesday.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41535638/mcdonalds-rivals-burger-king-yum-brands-remove-onions-from-menus-amid-quarter-pounder-e-coli-scare">McDonald&#8217;s Rivals Burger King, Yum Brands Remove Onions From Menus Amid Quarter-Pounder E.Coli Scare</a></li>
</ul>
Photo by Savvapanf on Shutterstock

Earnings Beats

Reiteration

Movers

Restaurant Brands Analysts Trim Forecasts After Q3 Sales Miss

Evercore ISI Group analyst David Palmer maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperform and lowers the price target from $93 to $90.

Evercore ISI Group Maintains Outperform on Restaurant Brands Intl, Lowers Price Target to $90

RBC Capital analyst Christopher Carril maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperform and lowers the price target from $95 to $90.

RBC Capital Maintains Outperform on Restaurant Brands Intl, Lowers Price Target to $90

Keybanc analyst Eric Gonzalez maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Overweight and lowers the price target from $80 to $78.

Keybanc Maintains Overweight on Restaurant Brands Intl, Lowers Price Target to $78

Guidance

Restaurant Brands Exec, In China, Sent Termination Notices To Master Franchisee, Which Was Disputed, And We Are Currently In Dispute Resolution Process; Says Now Believe FY24 System-wide Sales Growth Will Be In 5% To 5.5% Range

Restaurant Brands International Executive Says Expect FY System-Wide Sales Growth Will Come In Slightly Below Expectations Laid Out In August; In China, Actively Working To Find Right Long-Term Path For Burger King

Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) shares are trading lower in the premarket session on Tuesday after the company <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">reported its third-quarter results.</a>
Restaurant Brands reported adjusted earnings per share of 93 cents, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41740099/restaurant-brands-international-inc-reports-third-quarter-2024-results" rel="noreferrer noopener">missing the street view of 95 cents</a>. Quarterly sales of $2.291 billion missed the analyst consensus estimate of $2.307 billion.
The company reported consolidated comparable sales growth of 0.3% and a 3.8% increase in net restaurants compared to the previous year. System-wide sales saw a 3.2% year-over-year rise.
Income from operations was $577 million, slightly down from $582 million in the prior year. However, adjusted operating income reached $652 million, reflecting a 6.1% organic growth when excluding foreign exchange impacts and Restaurant Holdings.
&#8220;We have been pleased to see an improvement in consolidated comparable sales in October and remain confident we will achieve our 8% plus Adjusted Operating Income growth target for 2024 and beyond,&#8221; said Josh Kobza.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41740288/us-stocks-set-for-cautious-start-as-investors-brace-for-volatility-on-election-day-expert-points-to" rel="noreferrer noopener">US Stocks Set For Cautious Start As Investors Brace For Volatility On Election Day: Expert Points To &#8216;Pretty Well Overall&#8217; Historical Performance</a>
After acquiring Carrols and PLK China, Restaurant Brands created Restaurant Holdings. This segment includes results from Carrols Burger King and PLK China restaurants.
The company exited the quarter with cash and equivalents worth $1.176 billion. Net inventories as of quarter end totaled $169 million. The company&#8217;s long-term debt, net of current portion as of quarter end was $13.571 billion.
Dividend: Restaurant Brands declared a dividend of&nbsp;58 cents&nbsp;per common share for the fourth quarter of 2024. The dividend will be payable on January&nbsp;3.
Outlook: For 2024, Restaurant Brands continues to expect adjusted net interest expense to range between $565 million and $575 million. Additionally, consolidated capital expenditures, tenant inducements, and incentives (excluding RH) are expected to total around $300 million.
Restaurant Brands continues to expect its long-term performance targets for 2024 to 2028, including expectations of 3%+ growth in comparable sales, 5%+ growth in net restaurant count, 8%+ growth in system-wide sales, and adjusted operating income growth at least in line with system-wide sales growth.
Price Action: QSR shares are trading lower by 2.87% to $68.03 premarket at last check Tuesday.
Photo by Savvapanf on Shutterstock
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41736062/boeing-workers-end-seven-week-strike-by-accepting-new-contract-with-major-pay-increases" target="_blank" rel="noreferrer noopener">Boeing Workers End Seven-Week Strike By Accepting New Contract With Major Pay Increases</a></li>
</ul>

Earnings

Markets

Burger King Parent Restaurant Brands Stock Slips On Q3 Earnings Miss; On Track To Deliver 8%+ System-Wide Sales Growth

WIIM

Restaurant Brands International shares are trading lower following worse-than-expected Q3 financial results.

Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) reported quarterly earnings of $0.93 per share which missed the analyst consensus estimate of $0.95 by 2.11 percent. The company reported quarterly sales of $2.291 billion which missed the analyst consensus estimate of $2.307 billion by 0.69 percent. This is a 24.71 percent increase over sales of $1.837 billion the same period last year.

Earnings Misses

Restaurant Brands Intl Q3 2024 Adj. EPS $0.93 Misses $0.95 Estimate, Sales $2.291B Miss $2.307B Estimate

The U.S. copyright office has granted an exemption allowing third-party repairs of the frequently malfunctioning ice cream machines at McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>).
What Happened: Last week, the U.S. copyright office gave the green light to&nbsp;third parties to diagnose and&nbsp;repair commercial equipment, including McDonald&#8217;s notorious ice cream machines.
This decision enables franchise owners to circumvent the digital locks that previously barred them from fixing the machines themselves.
The exemption is a part of the Copyright Office&#8217;s final rule granting exceptions&nbsp;to Section 1201 of the&nbsp;Digital Millennium Copyright Act or DMCA. The law had earlier forbidden&nbsp;anyone other than the manufacturer,&nbsp; from bypassing its software&nbsp;locks.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41517027/five-us-banks-face-billions-in-losses-as-silvers-price-spike-hits-short-sellers-hard-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Five US Banks Face Billions In Losses As Silver&#8217;s Price Spike Hits Short Sellers Hard: Report</a>
However, following a machine teardown last year, iFixit and Public Knowledge filed for an exemption, which received support from&nbsp;the Federal Trade Commission and&nbsp;Department of Justice.
While the decision does not fully cover the request for an exemption for a broader range of commercial and industrial equipment, it does address the issue with McDonald&#8217;s ice cream machines.
The exemption will officially come&nbsp;into effect on Oct. 28.
Why It Matters: This development comes at a time when McDonald&#8217;s has been grappling with other issues. The fast-food giant recently faced an&nbsp;E. Coli scare&nbsp;linked to its Quarter Pounder burgers, which <a href="https://www.benzinga.com/news/24/10/41468120/mcdonalds-stock-drops-after-cdc-identifies-e-coli-outbreak-linked-to-quarter-pounders">led to a drop in its stock</a>.
As a result, McDonald&#8217;s and its rivals, including&nbsp;Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)&nbsp;and&nbsp;Yum Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>),&nbsp;<a href="https://www.benzinga.com/news/24/10/41535638/mcdonalds-rivals-burger-king-yum-brands-remove-onions-from-menus-amid-quarter-pounder-e-coli-scare">removed onions</a>&nbsp;from their menus.
However, McDonald&#8217;s has now announced that its&nbsp;Quarter Pounders are making a comeback&nbsp;after beef was ruled out as the<a href="https://www.benzinga.com/markets/equities/24/10/41565765/mcdonalds-quarter-pounders-to-make-a-comeback-after-beef-ruled-out-as-main-culprit-in-e-coli-sca"> main culprit in the E.Coli scare</a>.
The Food and Drug Administration, or FDA, had also <a href="https://www.benzinga.com/news/24/10/41527681/fda-launches-investigation-into-mcdonalds-supplier-taylor-farms-following-e-coli-outbreak">launched an&nbsp;investigation</a>&nbsp;into McDonald&#8217;s supplier, Taylor Farms, following the outbreak.
The outbreak has been linked to 49 reported cases of E. coli, leading to 10 hospitalizations and one fatality.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41544210/jim-cramer-buy-broadcom-but-stay-away-from-these-stocks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer: Buy Broadcom, But Stay Away From These Stocks</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: LadyDucayne via Flickr

Media

McDonald's Broken Ice Cream Machines Can Finally Be Fixed As New Copyright Exemption Allows 3rd Party Repairs

In response to an E. coli outbreak associated with fresh onions, leading U.S. fast-food chains including McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), and Yum Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) have decided to remove the vegetable from their menus. The outbreak has reportedly caused 49 illnesses and one fatality.
What Happened: As reported by Reuters, the parent company of Burger King, Restaurant Brands International, and Yum Brands have also decided to eliminate fresh onions from their offerings. A spokesperson confirmed that about 5% of Burger King outlets have already implemented this change.
&#8220;We&#8217;ve been told by corporate to not use any onions going forward for the foreseeable future,&#8221; said Maria Gonzales, a manager at a Longmont, Colorado Burger KIng, according to the report.
McDonald&#8217;s identified Taylor Farms as the source of the contaminated onions, which have now been recalled. Yellow onions from a Colorado facility have been recalled, according to a memo by US Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>), a major U.S. food service supplier.
The U.S. Food and Drug Administration announced that Taylor Farms, the supplier for the impacted McDonald&#8217;s locations, has started a recall. The health regulator is working with both federal and state authorities and the companies to establish if onions led to the outbreak.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41510042/peter-schiff-warns-investors-against-keeping-20k-in-cash-one-of-the-riskiest-bets-y?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Warns Investors Against Keeping $20K In Cash: &#8216;One Of The Riskiest Bets You Can Make&#8217;</a>
Why It Matters: This outbreak follows a recent report of E. coli cases linked to McDonald&#8217;s hamburgers, which led to a <a href="https://www.benzinga.com/news/24/10/41494285/mcdonalds-stock-is-tumbling-wednesday-heres-why">drop in the company&#8217;s shares</a>. The U.S. Centers for Disease Control announced that 49 cases of E. coli were detected across 10 states, with the majority of sick people reporting eating Quarter Pounder hamburgers from McDonald&#8217;s.
The FDA has launched an <a href="https://www.benzinga.com/news/24/10/41527681/fda-launches-investigation-into-mcdonalds-supplier-taylor-farms-following-e-coli-outbreak">investigation</a> into Taylor Farms, the supplier of McDonald&#8217;s, after multiple people fell ill with E. coli linked to the restaurant chain&#8217;s Quarter Pounder. The FDA currently believes slivered onions served on McDonald's hamburgers are the most likely source of contamination.
Despite the outbreak, analysts had previously stated that the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41494741/mcdonalds-well-positioned-to-contain-e-coli-outbreak-analysts-say-impact-minimal-co">impact on McDonald&#8217;s stock</a> would be minimal. However, David Tarantino, an analyst at Baird Equity Research, downgraded McDonald&#8217;s shares to &#8220;neutral&#8221; late on Wednesday due to concerns over consumer sentiment.
Price Action: On Thursday, McDonald&#8217;s stock traded 1% higher at $301.58 in the regular session and was largely flat in the after-hours trading, according to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">data from Benzinga Pro</a>.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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