Federated Hermes Inc. Decreases Stake in Bowlero Corp. (NYSE:BOWL)

Federated Hermes Inc. lowered its holdings in Bowlero Corp. (NYSE:BOWL) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 900,000 shares of the company’s stock after selling 100,000 shares during the quarter. Federated Hermes Inc. owned 0.59% of Bowlero worth $12,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Cadian Capital Management LP purchased a new stake in Bowlero during the third quarter valued at $4,810,000. Vanguard Group Inc. increased its position in Bowlero by 4.8% during the third quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company’s stock valued at $40,685,000 after acquiring an additional 193,801 shares during the last quarter. Kennedy Capital Management LLC increased its position in Bowlero by 283.8% during the third 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 stake in Bowlero during the third quarter valued at $3,145,000. Finally, Private Management Group Inc. purchased a new stake in Bowlero during the third quarter valued at $12,217,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Bowlero Stock Performance

NYSE BOWL opened at $11.30 on Wednesday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 62.78 and a beta of 0.50. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 46.80. The business has a 50-day moving average price of $12.92 and a 200-day moving average price of $12.10. Bowlero Corp. has a twelve month low of $8.85 and a twelve month high of $15.47.

Bowlero (NYSE:BOWL) last released its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). The business had revenue of $305.67 million during the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. As a group, equities research analysts predict that Bowlero Corp. will post 0.17 EPS for the current fiscal year.

Bowlero Announces Dividend

The firm also recently disclosed a Variable dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.055 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. Bowlero’s dividend payout ratio (DPR) is 122.22%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Roth Mkm boosted their price target on Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Oppenheimer boosted their price target on Bowlero from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Finally, Stifel Nicolaus cut their price target on Bowlero from $21.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.00.

Insider Transactions at Bowlero

In related news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total value of $1,123,998.96. Following the sale, the director now directly owns 1,040,204 shares in the company, valued at $13,397,827.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 56.54% of the company’s stock.

Bowlero Company 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.