FS KKR Capital (NYSE:FSK) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of FS KKR Capital (NYSE:FSK) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

FSK has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of FS KKR Capital in a report on Wednesday, October 8th. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods lowered their price target on FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of FS KKR Capital from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada decreased their price objective on shares of FS KKR Capital from $21.00 to $18.00 and set a “sector perform” rating for the company in a report on Tuesday, August 26th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FS KKR Capital currently has a consensus rating of “Reduce” and an average price target of $17.67.

FS KKR Capital Stock Down 0.3%

Shares of FSK stock opened at $15.61 on Tuesday. The firm’s 50 day moving average price is $15.51 and its two-hundred day moving average price is $18.65. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.19. FS KKR Capital has a 52-week low of $14.05 and a 52-week high of $24.10.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Wednesday, November 5th. The company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $373.00 million during the quarter, compared to analysts’ expectations of $374.89 million. FS KKR Capital had a net margin of 17.24% and a return on equity of 5.63%. During the same quarter in the previous year, the company posted $0.74 EPS. As a group, equities analysts forecast that FS KKR Capital will post 2.89 EPS for the current year.

FS KKR Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.56 annualized dividend and a dividend yield of 16.4%. FS KKR Capital’s dividend payout ratio (DPR) is currently 263.92%.

Insider Transactions at FS KKR Capital

In other news, CEO Michael C. Forman acquired 10,000 shares of FS KKR Capital stock in a transaction dated Tuesday, November 11th. The stock was bought at an average cost of $15.50 per share, with a total value of $155,000.00. Following the completion of the transaction, the chief executive officer directly owned 24,220 shares of the company’s stock, valued at approximately $375,410. This represents a 70.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Pietrzak bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $15.15 per share, for a total transaction of $151,500.00. Following the transaction, the insider owned 59,800 shares in the company, valued at $905,970. The trade was a 20.08% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 20,330 shares of company stock worth $312,480. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of FS KKR Capital

A number of institutional investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp bought a new position in FS KKR Capital in the second quarter valued at $26,000. Beacon Capital Management Inc. acquired a new position in shares of FS KKR Capital during the 2nd quarter worth about $26,000. Flaharty Asset Management LLC acquired a new position in shares of FS KKR Capital during the 1st quarter worth about $29,000. Eastern Bank grew its holdings in shares of FS KKR Capital by 355.6% in the 3rd quarter. Eastern Bank now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of FS KKR Capital by 51.0% in the second quarter. Trust Co. of Vermont now owns 1,525 shares of the company’s stock valued at $32,000 after acquiring an additional 515 shares during the last quarter. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Company Profile

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.