Silver Point Capital L.P. purchased a new position in shares of FS KKR Capital Corp. (NYSE:FSK – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,724,000 shares of the company’s stock, valued at approximately $28,602,000. FS KKR Capital accounts for about 0.0% of Silver Point Capital L.P.’s holdings, making the stock its 6th largest position. Silver Point Capital L.P. owned about 0.99% of FS KKR Capital at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Jessup Wealth Management Inc acquired a new position in FS KKR Capital in the fourth quarter valued at approximately $26,000. Harborfront Financial Group LLC purchased a new position in FS KKR Capital in the second quarter worth $30,000. Basepoint Wealth LLC bought a new stake in shares of FS KKR Capital during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC boosted its stake in shares of FS KKR Capital by 201.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock worth $40,000 after acquiring an additional 1,789 shares during the last quarter. Finally, Knott David M Jr bought a new stake in shares of FS KKR Capital during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 36.26% of the company’s stock.
FS KKR Capital Trading Up 0.4%
Shares of FSK stock traded up $0.05 during trading hours on Friday, hitting $12.28. 1,207,225 shares of the company were exchanged, compared to its average volume of 3,259,320. The firm has a market cap of $3.39 billion, a PE ratio of -9.10 and a beta of 0.83. The firm has a fifty day moving average of $11.13 and a 200 day moving average of $11.08. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $18.25.
FS KKR Capital Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date is Wednesday, September 16th. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s dividend payout ratio (DPR) is presently -124.44%.
Analysts Set New Price Targets
A number of equities analysts recently commented on FSK shares. Capital One Financial set a $12.00 target price on FS KKR Capital in a report on Friday, August 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Wells Fargo & Company dropped their price target on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lifted their target price on FS KKR Capital from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $11.43.
Get Our Latest Analysis on FSK
FS KKR Capital Company 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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