Comerica Bank Reduces Stock Position in FS KKR Capital Corp. $FSK

Comerica Bank reduced its holdings in FS KKR Capital Corp. (NYSE:FSK) by 9.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,842 shares of the company’s stock after selling 1,374 shares during the period. Comerica Bank’s holdings in FS KKR Capital were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in FS KKR Capital during the 4th quarter valued at about $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of FS KKR Capital in the 1st quarter valued at about $34,000. von Borstel & Associates Inc. bought a new stake in shares of FS KKR Capital in the 1st quarter valued at about $60,000. Creekmur Asset Management LLC grew its position in shares of FS KKR Capital by 76.9% in the 1st quarter. Creekmur Asset Management LLC now owns 3,106 shares of the company’s stock worth $65,000 after buying an additional 1,350 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its position in shares of FS KKR Capital by 52.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 3,419 shares of the company’s stock worth $72,000 after buying an additional 1,181 shares during the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FSK shares. Wells Fargo & Company cut their price objective on shares of FS KKR Capital from $18.00 to $15.00 and set an “underweight” rating on the stock in a research report on Friday, August 8th. Keefe, Bruyette & Woods dropped their target price on shares of FS KKR Capital from $19.00 to $18.50 and set a “market perform” rating on the stock in a research report on Tuesday, August 12th. B. Riley initiated coverage on shares of FS KKR Capital in a research report on Tuesday, May 13th. They set a “neutral” rating and a $19.00 target price on the stock. Zacks Research upgraded shares of FS KKR Capital to a “strong sell” rating in a research note on Friday, August 8th. Finally, Wall Street Zen cut shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $18.42.

FS KKR Capital Price Performance

FS KKR Capital stock opened at $17.86 on Wednesday. FS KKR Capital Corp. has a 52-week low of $17.35 and a 52-week high of $24.10. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 22.90 and a beta of 0.95. The company has a fifty day simple moving average of $19.79 and a 200-day simple moving average of $20.43. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 1.31.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($1.23). FS KKR Capital had a net margin of 13.24% and a return on equity of 6.24%. The firm had revenue of $398.00 million during the quarter, compared to analysts’ expectations of $402.00 million. During the same period in the prior year, the company posted $0.75 EPS. On average, equities analysts anticipate that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.70 per share. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.64. This represents a $2.80 annualized dividend and a dividend yield of 15.7%. The ex-dividend date of this dividend is Wednesday, September 17th. FS KKR Capital’s dividend payout ratio is currently 328.21%.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.