Bank of New York Mellon Corp Sells 52,147 Shares of Bowlero Corp. (NYSE:BOWL)

Bank of New York Mellon Corp trimmed its stake in Bowlero Corp. (NYSE:BOWL) by 39.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,551 shares of the company’s stock after selling 52,147 shares during the quarter. Bank of New York Mellon Corp owned about 0.05% of Bowlero worth $1,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. increased its stake in Bowlero by 5.2% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company’s stock valued at $1,368,000 after purchasing an additional 4,700 shares in the last quarter. Boston Partners increased its position in shares of Bowlero by 6.0% during the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after acquiring an additional 205,902 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Bowlero by 76.9% in the 1st quarter. Janus Henderson Group PLC now owns 46,617 shares of the company’s stock worth $639,000 after acquiring an additional 20,259 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after acquiring an additional 978 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Bowlero by 12.3% in the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock valued at $509,000 after acquiring an additional 4,070 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Bowlero Stock Performance

Shares of BOWL stock opened at $11.49 on Friday. Bowlero Corp. has a 52-week low of $8.85 and a 52-week high of $15.47. The company has a 50-day simple moving average of $11.88 and a two-hundred day simple moving average of $12.52. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 21.68 and a beta of 0.59.

Bowlero Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s payout ratio is 41.51%.

Wall Street Analyst Weigh In

Separately, B. Riley reissued a “buy” rating and issued a $17.00 price objective on shares of Bowlero in a research note on Tuesday, September 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

About Bowlero

Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. The company also provides hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. It operates bowling centers in the United States, Mexico, and Canada.