RBI steps back from Russia

Article Excerpt

RESTAURANT BRANDS INTERNATIONAL INC. $57 is a buy. The company (New York symbol, Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 460.3 million; Market cap: $26.2 billion; Price-to-sales ratio: 5.8; Dividend yield: 3.7%; TSINetwork Rating: Average; www.rbi.com) is the world’s third-largest fast-food operator after McDonald’s (No. 1) and Yum Brands (No. 2). The company has it cut off support for operations, marketing and the supply chain in Russia. However, the franchised operators of 800 Burger King locations in that country have refused to close those outlets. Due to longstanding legal agreements, the company has little control over its franchisees in Russia. However, it will redirect its earnings from those outlets towards humanitarian efforts supporting Ukrainian refugees. It will also stop further investments in Russia. Restaurant Brands remains a buy. buy…