Concorde Asset Management LLC purchased a new stake in FS KKR Capital Corp. (NYSE:FSK – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 70,634 shares of the company’s stock, valued at approximately $771,000.
Several other institutional investors and hedge funds have also bought and sold shares of FSK. Jessup Wealth Management Inc acquired a new position in shares of FS KKR Capital in the 4th quarter valued at approximately $26,000. Harborfront Financial Group LLC bought a new stake in shares of FS KKR Capital during the 2nd quarter worth approximately $30,000. Basepoint Wealth LLC acquired a new stake in shares of FS KKR Capital during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its position 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 in the last quarter. Finally, Knott David M Jr bought a new position in FS KKR Capital in the fourth quarter valued at approximately $43,000. Institutional investors own 36.26% of the company’s stock.
FS KKR Capital Price Performance
FSK stock opened at $12.24 on Friday. The company has a 50 day simple moving average of $11.13 and a 200 day simple moving average of $11.08. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -9.07 and a beta of 0.83. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $18.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.28 and a quick ratio of 2.28.
FS KKR Capital Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 16th. This represents a $1.76 dividend on an annualized basis and a yield of 14.4%. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s dividend payout ratio is presently -124.44%.
Analyst Upgrades and Downgrades
FSK has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday, August 12th. JPMorgan Chase & Co. raised their target price on FS KKR Capital from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded FS KKR Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $11.43.
View Our Latest Research Report on FSK
About FS KKR Capital
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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