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

Bank of New York Mellon Corp trimmed its position in shares of Bowlero Corp. (NYSE:BOWL - Free Report) by 39.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,551 shares of the company's stock after selling 52,147 shares during the period. Bank of New York Mellon Corp owned approximately 0.05% of Bowlero worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company's stock valued at $110,000 after buying an additional 2,500 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock valued at $205,000 after buying an additional 978 shares during the period. Diversified Trust Co raised its holdings in Bowlero by 39.4% during the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company's stock valued at $325,000 after buying an additional 6,700 shares during the period. Bessemer Group Inc. raised its holdings in Bowlero by 12.3% during the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company's stock valued at $509,000 after buying an additional 4,070 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Bowlero by 52.4% during the 1st quarter. Bleakley Financial Group LLC now owns 40,971 shares of the company's stock valued at $561,000 after buying an additional 14,081 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Bowlero Trading Down 1.5 %

Shares of BOWL traded down $0.17 during midday trading on Friday, reaching $11.49. 1,725,834 shares of the stock were exchanged, compared to its average volume of 865,190. Bowlero Corp. has a 52 week low of $8.85 and a 52 week high of $15.47. The company's 50 day moving average is $11.83 and its two-hundred day moving average is $12.51. The company has a market capitalization of $1.71 billion, a P/E ratio of 21.68 and a beta of 0.59.

Bowlero Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders 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%.

Analyst Upgrades and Downgrades

Separately, B. Riley restated a "buy" rating and set a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.57.

Bowlero Profile

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.