Brokerages Set Bowlero Corp. (NYSE:BOWL) PT at $16.57

Shares of Bowlero Corp. (NYSE:BOWL) have earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.57.

BOWL has been the topic of a number of analyst reports. CJS Securities reaffirmed a “market perform” rating on shares of Bowlero in a research report on Tuesday, May 7th. B. Riley dropped their price target on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Roth Mkm decreased their price objective on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. JPMorgan Chase & Co. cut their price target on Bowlero from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Craig Hallum boosted their price objective on Bowlero from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cadian Capital Management LP purchased a new stake in Bowlero during the third quarter valued at $4,810,000. Kent Lake Capital LLC raised its position in shares of Bowlero by 500.0% during the 3rd quarter. Kent Lake Capital LLC now owns 600,000 shares of the company’s stock valued at $5,772,000 after buying an additional 500,000 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Bowlero by 283.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after acquiring an additional 356,485 shares during the last quarter. Primecap Management Co. CA purchased a new position in Bowlero in the third quarter worth about $3,145,000. Finally, Champlain Investment Partners LLC increased its stake in Bowlero by 10.8% during the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after acquiring an additional 275,525 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Bowlero Price Performance

NYSE BOWL opened at $12.06 on Thursday. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.21 and a current ratio of 1.29. The business’s fifty day moving average is $12.42 and its 200 day moving average is $12.24. The company has a market capitalization of $1.79 billion, a PE ratio of 22.75 and a beta of 0.57. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47.

Bowlero Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.22 annualized dividend and a dividend yield of 1.82%. Bowlero’s dividend payout ratio (DPR) is 41.51%.

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.