Diversify Wealth Management LLC boosted its stake in FS KKR Capital Corp. (NYSE:FSK – Free Report) by 95.0% in the first quarter, HoldingsChannel reports. The firm owned 200,812 shares of the company’s stock after buying an additional 97,808 shares during the period. Diversify Wealth Management LLC’s holdings in FS KKR Capital were worth $2,139,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in FSK. Fifth Third Bancorp acquired a new stake in shares of FS KKR Capital in the 1st quarter valued at about $65,000. Roman Butler Fullerton & Co. raised its stake in FS KKR Capital by 44.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 22,190 shares of the company’s stock worth $227,000 after buying an additional 6,873 shares during the period. Kestra Advisory Services LLC raised its stake in FS KKR Capital by 6.6% during the 1st quarter. Kestra Advisory Services LLC now owns 780,656 shares of the company’s stock worth $7,947,000 after buying an additional 48,352 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in FS KKR Capital by 2,599.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 414,788 shares of the company’s stock worth $4,223,000 after acquiring an additional 399,420 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC boosted its holdings in FS KKR Capital by 1.6% in the first quarter. Elevation Point Wealth Partners LLC now owns 303,022 shares of the company’s stock worth $3,245,000 after acquiring an additional 4,781 shares in the last quarter. Institutional investors and hedge funds own 36.26% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on FSK. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $11.00 target price on shares of FS KKR Capital in a research report on Tuesday, May 12th. Wells Fargo & Company cut their target price on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Keefe, Bruyette & Woods reduced their price target on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, April 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $10.58.
FS KKR Capital Price Performance
Shares of NYSE FSK opened at $10.81 on Tuesday. FS KKR Capital Corp. has a fifty-two week low of $9.72 and a fifty-two week high of $22.68. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -5.49 and a beta of 0.82. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. The firm’s 50-day simple moving average is $10.71 and its 200 day simple moving average is $11.72.
FS KKR Capital (NYSE:FSK – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The company had revenue of $304.00 million for the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. FS KKR Capital’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. As a group, research analysts anticipate that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.
FS KKR Capital Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.68 annualized dividend and a dividend yield of 15.5%. FS KKR Capital’s payout ratio is presently -85.28%.
FS KKR Capital Profile
FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.
Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.
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