Legacy Capital Group California Inc. trimmed its holdings in shares of FS KKR Capital Corp. (NYSE:FSK – Free Report) by 59.0% in the first quarter, Holdings Channel.com reports. The firm owned 128,689 shares of the company’s stock after selling 184,926 shares during the quarter. Legacy Capital Group California Inc.’s holdings in FS KKR Capital were worth $1,310,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Titan Investment Management LLC bought a new stake in shares of FS KKR Capital during the fourth quarter worth $1,863,000. UBS Group AG lifted its position 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 acquiring an additional 505,982 shares in the last quarter. 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 valued at $33,993,000 after acquiring an additional 304,556 shares in the last quarter. Marble Wealth LLC acquired a new position in FS KKR Capital in the 4th quarter worth $1,567,000. Finally, Lido Advisors LLC boosted its stake in FS KKR Capital by 452.0% in the 4th quarter. Lido Advisors LLC now owns 589,139 shares of the company’s stock worth $8,725,000 after purchasing an additional 482,412 shares during the period. 36.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. 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. Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 price objective on shares of FS KKR Capital in a report on Tuesday, May 12th. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company cut their target price 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. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $10.58.
FS KKR Capital Trading Up 0.1%
Shares of FS KKR Capital stock opened at $10.81 on Tuesday. The stock has a market cap of $3.03 billion, a P/E ratio of -5.49 and a beta of 0.82. 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 $22.68. The business’s 50 day moving average is $10.71 and its 200-day moving average is $11.72.
FS KKR Capital (NYSE:FSK – Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. FS KKR Capital’s quarterly revenue was down 24.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. Equities research analysts predict that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.
FS KKR Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date of this dividend was Wednesday, June 17th. FS KKR Capital’s dividend payout ratio (DPR) is -85.28%.
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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