SummitTX Capital L.P. Takes Position in FS KKR Capital Corp. $FSK

SummitTX Capital L.P. acquired a new position in shares of FS KKR Capital Corp. (NYSE:FSKFree Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 162,066 shares of the company’s stock, valued at approximately $1,650,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of FS KKR Capital by 55,074.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock worth $114,644,000 after purchasing an additional 7,726,974 shares during the period. Van ECK Associates Corp increased its stake in FS KKR Capital by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 4,083,940 shares of the company’s stock valued at $60,484,000 after buying an additional 94,262 shares during the period. UBS Group AG increased its stake in FS KKR Capital by 15.3% in the 4th quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock valued at $56,368,000 after buying an additional 505,982 shares during the period. Oak Hill Advisors LP purchased a new stake in FS KKR Capital in the 4th quarter worth approximately $38,659,000. Finally, Legal & General Group Plc lifted its position in FS KKR Capital by 15.3% in the 4th quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock worth $33,993,000 after buying an additional 304,556 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

Shares of FSK opened at $10.74 on Thursday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -5.45 and a beta of 0.82. The company’s fifty day moving average is $10.69 and its 200-day moving average is $11.40. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.38. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $21.71.

FS KKR Capital (NYSE:FSKGet Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The company had revenue of $304.00 million during the quarter, compared to the consensus estimate of $316.81 million. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s revenue was down 24.0% on a year-over-year basis. Equities analysts expect that FS KKR Capital Corp. will post 1.64 EPS for the current fiscal year.

FS KKR Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.68 dividend on an annualized basis and a yield of 15.6%. FS KKR Capital’s dividend payout ratio is -85.28%.

Analyst Upgrades and Downgrades

FSK has been the subject of a number of research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $11.00 target price on shares of FS KKR Capital in a research note on Tuesday, May 12th. Wells Fargo & Company cut their price objective on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Keefe, Bruyette & Woods reduced their price objective on 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. Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $10.58.

Get Our Latest Stock Analysis on FSK

About FS KKR Capital

(Free Report)

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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Institutional Ownership by Quarter for FS KKR Capital (NYSE:FSK)

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