Van ECK Associates Corp Increases Position in FS KKR Capital Corp. $FSK

Van ECK Associates Corp boosted its position in FS KKR Capital Corp. (NYSE:FSKFree Report) by 13.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,382,748 shares of the company’s stock after acquiring an additional 636,889 shares during the quarter. Van ECK Associates Corp owned 1.95% of FS KKR Capital worth $56,519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Titan Investment Management LLC purchased a new position in shares of FS KKR Capital during the 4th quarter valued at about $1,863,000. OMERS ADMINISTRATION Corp purchased a new stake in FS KKR Capital in the second quarter worth approximately $7,548,000. UBS Group AG boosted its stake in FS KKR Capital by 15.3% in the fourth quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock worth $56,368,000 after buying an additional 505,982 shares in the last quarter. Marble Wealth LLC bought a new position in FS KKR Capital during the fourth quarter valued at approximately $1,567,000. Finally, Silver Point Capital L.P. bought a new position in FS KKR Capital during the second quarter valued at approximately $28,602,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FSK. Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday, August 12th. Wells Fargo & Company lowered their price target on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their price target on shares of FS KKR Capital from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Finally, Truist Financial upped their price target on shares of FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $11.43.

Read Our Latest Research Report on FS KKR Capital

FS KKR Capital Stock Performance

Shares of FSK stock opened at $12.28 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.28 and a current ratio of 2.28. FS KKR Capital Corp. has a fifty-two week low of $9.72 and a fifty-two week high of $18.25. The stock has a 50 day moving average price of $11.17 and a two-hundred day moving average price of $11.08. The company has a market capitalization of $3.39 billion, a P/E ratio of -9.10 and a beta of 0.83.

FS KKR Capital (NYSE:FSKGet Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. The firm had revenue of $290.00 million for the quarter, compared to analysts’ expectations of $286.75 million. During the same quarter last year, the business earned ($0.75) earnings per share. Analysts expect that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.

FS KKR Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 14.3%. The ex-dividend date of this dividend is Wednesday, September 16th. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s dividend payout ratio is currently -124.44%.

FS KKR Capital Company Profile

(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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