SCS Capital Management LLC trimmed its position in shares of FS KKR Capital Corp. (NYSE:FSK – Free Report) by 75.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 114,154 shares of the company’s stock after selling 349,797 shares during the period. SCS Capital Management LLC’s holdings in FS KKR Capital were worth $1,691,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Founders Financial Securities LLC grew its stake in FS KKR Capital by 99.3% during the fourth quarter. Founders Financial Securities LLC now owns 63,196 shares of the company’s stock worth $936,000 after buying an additional 31,487 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in FS KKR Capital during the fourth quarter worth about $162,000. Acorn Wealth Advisors LLC grew its stake in FS KKR Capital by 1.4% during the fourth quarter. Acorn Wealth Advisors LLC now owns 65,079 shares of the company’s stock worth $964,000 after buying an additional 914 shares in the last quarter. Basepoint Wealth LLC acquired a new stake in FS KKR Capital during the fourth quarter worth about $31,000. Finally, Foundations Investment Advisors LLC acquired a new stake in FS KKR Capital during the fourth quarter worth about $150,000. 36.26% of the stock is currently owned by institutional investors and hedge funds.
Key FS KKR Capital News
Here are the key news stories impacting FS KKR Capital this week:
- Positive Sentiment: FS KKR Capital is reportedly planning to sell at least $400 million of junk bonds for high-yield investors, which could help it raise capital and support liquidity. FS KKR plans to sell at least $400M of junk bonds for high yield – report
- Neutral Sentiment: One article argues FS KKR Capital may be a buy as activist investor Saba enters ahead of a possible 13D filing, suggesting potential defense measures or a catalyst from shareholder activism. FS KKR Capital Finally A Buy On Saba Pre-13D Entry, Early Defense Measures
- Negative Sentiment: Multiple law firms are promoting class-action lawsuits and reminding investors of lead-plaintiff deadlines, alleging FS KKR Capital made misleading portfolio valuation disclosures that hurt shareholders. Rosen Encourages FS KKR Capital Investors to Secure Counsel
- Negative Sentiment: The lawsuits and deadline reminders from Bronstein, Gewirtz & Grossman, Faruqi & Faruqi, Berger Montague, and Schall reinforce litigation risk around the stock and may keep investors cautious. Bronstein, Gewirtz & Grossman class action alert
FS KKR Capital Stock Up 0.7%
FS KKR Capital (NYSE:FSK – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.The business had revenue of $304.00 million for the quarter, compared to analyst estimates of $316.81 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was down 24.0% on a year-over-year basis. On average, research analysts anticipate that FS KKR Capital Corp. will post 1.66 earnings per share for the current year.
FS KKR Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, June 17th. This represents a $1.68 annualized dividend and a yield of 15.3%. FS KKR Capital’s dividend payout ratio (DPR) is currently -85.28%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Weiss Ratings downgraded shares of FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. Keefe, Bruyette & Woods decreased their price target on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company decreased their price target on shares of 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. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $11.00 price target on shares of FS KKR Capital in a report on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, FS KKR Capital presently has an average rating of “Reduce” and an average price target of $10.58.
View Our Latest Stock Analysis on FS KKR Capital
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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