Commonwealth Equity Services LLC Sells 223,392 Shares of FS KKR Capital Corp. $FSK

Commonwealth Equity Services LLC trimmed its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,090,515 shares of the company’s stock after selling 223,392 shares during the period. Commonwealth Equity Services LLC owned about 1.46% of FS KKR Capital worth $61,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FSK. Atlantic Union Bankshares Corp bought a new stake in FS KKR Capital during the second quarter worth about $26,000. Beacon Capital Management Inc. acquired a new position in shares of FS KKR Capital during the 2nd quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new stake in shares of FS KKR Capital during the 1st quarter worth approximately $29,000. Trust Co. of Vermont raised its stake in shares of 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 purchasing an additional 515 shares in the last quarter. Finally, Compass Financial Services Inc acquired a new stake in shares of FS KKR Capital in the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FSK. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Royal Bank Of Canada decreased their price objective on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Friday, November 14th. Wells Fargo & Company raised shares of FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 target price on the stock in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of FS KKR Capital in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.50.

FS KKR Capital Stock Performance

Shares of FSK opened at $14.65 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. FS KKR Capital Corp. has a 52 week low of $14.05 and a 52 week high of $24.10. The firm’s 50-day simple moving average is $15.25 and its 200 day simple moving average is $17.14.

FS KKR Capital (NYSE:FSK) last posted 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 for the quarter, compared to the consensus estimate of $374.89 million. FS KKR Capital had a return on equity of 5.63% and a net margin of 17.24%.During the same quarter in the prior year, the business earned $0.74 earnings per share. Sell-side analysts forecast that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were paid a $0.64 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $2.56 annualized dividend and a dividend yield of 17.5%. FS KKR Capital’s dividend payout ratio is 263.92%.

Insider Transactions at FS KKR Capital

In other FS KKR Capital news, insider Daniel Pietrzak bought 10,000 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $15.15 per share, with a total value of $151,500.00. Following the completion of the acquisition, the insider owned 59,800 shares of the company’s stock, valued at $905,970. This trade represents a 20.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael C. Forman purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was acquired 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 owned 24,220 shares of the company’s stock, valued at $375,410. This represents a 70.32% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.25% of the stock is currently owned by company 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.