FS KKR Capital Corp. $FSK Position Lifted by CCLA Investment Management

CCLA Investment Management raised its stake in FS KKR Capital Corp. (NYSE:FSK) by 5.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,703,635 shares of the company’s stock after purchasing an additional 90,167 shares during the period. CCLA Investment Management’s holdings in FS KKR Capital were worth $25,435,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FSK. Atlantic Union Bankshares Corp bought a new position in shares of FS KKR Capital during the second quarter worth about $26,000. Beacon Capital Management Inc. bought a new stake in FS KKR Capital in the second quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new stake in FS KKR Capital during the first quarter valued at approximately $29,000. Trust Co. of Vermont lifted its holdings in FS KKR Capital by 51.0% during the 2nd quarter. Trust Co. of Vermont now owns 1,525 shares of the company’s stock worth $32,000 after buying an additional 515 shares during the last quarter. Finally, Wealth Preservation Advisors LLC bought a new position in FS KKR Capital during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

FS KKR Capital Trading Down 1.9%

FS KKR Capital stock opened at $14.68 on Monday. The firm has a 50-day moving average price of $15.33 and a two-hundred day moving average price of $17.68. FS KKR Capital Corp. has a 52-week low of $14.05 and a 52-week high of $24.10. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 15.13 and a beta of 0.82. 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 (NYSE:FSK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. FS KKR Capital had a return on equity of 5.63% and a net margin of 17.24%.The company had revenue of $373.00 million for the quarter, compared to analysts’ expectations of $374.89 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. Sell-side analysts expect that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $2.56 annualized dividend and a yield of 17.4%. FS KKR Capital’s dividend payout ratio (DPR) is presently 263.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company upgraded FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 price target for the company in a report on Monday, October 6th. JPMorgan Chase & Co. lowered their target price on shares of FS KKR Capital from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of FS KKR Capital in a report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating for the company in a report on Monday, November 10th. Finally, Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Eight analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.50.

Insider Transactions at FS KKR Capital

In related news, insider Daniel Pietrzak acquired 10,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $15.15 per share, for a total transaction of $151,500.00. Following the completion of the purchase, the insider directly owned 59,800 shares of the company’s stock, valued at $905,970. The trade was a 20.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael C. Forman bought 10,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average price 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 $375,410. This trade represents a 70.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.18% of the stock is currently owned by insiders.

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.