QSR - 3 Top Restaurant Stocks to Watch In June
The restaurant sector has not been kind to investors in 2020. The COVID-19 pandemic forced eateries to close their doors to sit-down diners, focusing exclusively on takeout and delivery options, instead. The S&P 500 Restaurants index fell 35% from the new year to March 18 before staging an impressive recovery.
Some restaurant stocks have suffered more than others this year. Investors should keep a close eye on Chipotle Mexican Grill (NYSE: CMG), Bloomin' Brands (NASDAQ: BLMN), and Restaurant Brands International (NYSE: QSR) this month, for very different reasons.
The parent company of Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse was not in great shape before the coronavirus crisis. The company put itself up for sale in February under pressure from activist investors to reshape the portfolio of restaurant concepts. Bonefish Grill stood out like a sore thumb, posting lower sales, while the other brands reported rising revenues.