Restaurant Brands International (QSR.TO)

Tim Horton's, Popeye's, Burger King. A number of the Tim's franchisees have become quite vocal recently. Costs have gone up. There is bad blood. It is possible that they are too fixed on cutting costs and not on the customer. All of the packaged foods companies have been pressured recently. He prefers CARA-T.

The parent of Tim Hortons. He hates the way this company operates. They squeeze people out and especially the franchisees. He does not respect the organization anymore. He stays away from this on principle.

Bad headline news about Tim Horton's franchisees doesn't help. She'd buy Yum! Brands (YUM-N) (KFC, Pizza Hut) instead because of its presence in China and now India.

He owns it. Given what is happening with the franchisees and with minimum wages you want to be patient with this name. Longer term is a great franchise. Valuation is pretty decent trading 21 times earnings with a 15% expected growth rate. Good brands underneath the umbrella (Tim’s, Burger King, etc.). In the meantime, you get a 3.3% dividend yield which is not bad given where rates are in Canada.

Solid franchiser. Tim Hortons and Burger King are the primary names. Tim Horton is struggling now. Cost-cutting seems to have gone a little overboard and potentially has jeopardized the relationship with franchisees. Still an expensive name.

A little bit of a problem company. An acquirer. Big holdings are Tim Hortons and Burger King. They tend to squeeze as much as they can from the franchisees and try to grow sales. They had many problems with Tim Hortons franchisees and that hurt the stock. People are not so much in love with the stock. Valuation was well overdone, and he would worry at this level.

Recently bought this. Burger King is doing quite well though Timmy's has been flat. Good combo of 3% dividend and growth. (Analysts price target: $90.35)

They are struggling a little bit with Tim Hortons same store sales. They are paying now a 3.1% dividend. The strategies that management is implementing is going to work out. Stock is cheaper than its 5 years average. (Analysts’ price target is $89.92)

The long term outlook is quite solid. They have not handled the minimum wage issue of Tim Hortons. He blames politicians for not seeing this coming. It is a great business with an expanding list of brands. It is not dirt cheap, but if interest rates rise it could face headwinds. Yield 3%. (Analysts’ price target is $90 )

Buy at $74? Many pressures against it, like Tim Horton's minimum wage controversy in Ontario. Horton's had weak same-store sale numbers. Trades at a hefty multiple. There are better opportunities in other names. Cost-cutting can last only so long.

(A Top Pick March 13/17. Up 1%.) Mini pullback in past three months, but still fantastic. ROIC is 20%+. Valuation has improved. Hasn't heard of price war among U.S. fast food chains, but unconcerned.

This has been an incredible story, and is one he wishes he had owned. 3G has done an incredible job of integrating Burger King and Tim Hortons. However, it’s trading at a full multiple and is fairly valued.

Not inexpensive. They are viewed as pretty good operators. She has chosen Yum Brands (YUM-N) instead, because she wants exposure to emerging markets, because of secular growth.

The volume is quite good. There is very little he can add technically. A lot of stocks are very similar.

He likes it, has been one of his top picks in the past and he stills like it. Tim Hortons has always been great on its own, then came Burger King which is pretty strong too. Together there was a little bit of synergies. And then they bought Popeyes Louisiana Chicken which he was pleasantly surprised with the performance. They are still on the hunt for more acquisition and are really good operators. There are speculations that the new McDonald's Value Menu could be a treat and that a price war could be going on. He is not too concerned about the competition. He would recommend McDonald’s (MCD-N) as well.