Bowlero Corp. (NYSE:BOWL) Declares Quarterly Dividend of $0.06

Bowlero Corp. (NYSE:BOWL) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Shareholders of record on Friday, August 23rd will be paid a dividend of 0.055 per share on Friday, September 6th. This represents a $0.22 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, August 23rd.

Bowlero has a payout ratio of 71.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bowlero to earn $0.32 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 68.8%.

Bowlero Stock Up 1.2 %

Shares of BOWL traded up $0.13 during midday trading on Tuesday, reaching $11.29. The company had a trading volume of 374,336 shares, compared to its average volume of 917,374. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The firm has a 50 day simple moving average of $13.36 and a 200-day simple moving average of $12.84. The stock has a market cap of $1.68 billion, a PE ratio of 21.06 and a beta of 0.62.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.11). The company had revenue of $337.67 million for the quarter, compared to analysts’ expectations of $341.45 million. Bowlero had a return on equity of 330.46% and a net margin of 11.24%. As a group, sell-side analysts anticipate that Bowlero will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on BOWL shares. Oppenheimer decreased their price target on Bowlero from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. CJS Securities reiterated a “market perform” rating on shares of Bowlero in a research note on Tuesday, May 7th. B. Riley restated a “buy” rating and issued a $17.00 target price on shares of Bowlero in a report on Tuesday, June 25th. Craig Hallum boosted their price target on shares of Bowlero from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus cut their target price on Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Insider Activity at Bowlero

In other news, Director Michelle D. Wilson sold 65,829 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $12.90, for a total value of $849,194.10. Following the completion of the sale, the director now owns 848,471 shares of the company’s stock, valued at approximately $10,945,275.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michelle D. Wilson sold 65,829 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.90, for a total value of $849,194.10. Following the completion of the sale, the director now directly owns 848,471 shares in the company, valued at approximately $10,945,275.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michelle D. Wilson sold 39,309 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $13.98, for a total transaction of $549,539.82. Following the sale, the director now directly owns 958,162 shares in the company, valued at $13,395,104.76. The disclosure for this sale can be found here. 56.54% of the stock is currently owned by corporate insiders.

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.