FS KKR Capital Corp. $FSK Stake Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of FS KKR Capital Corp. (NYSE:FSK) by 86.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,358 shares of the company’s stock after purchasing an additional 70,040 shares during the quarter. JPMorgan Chase & Co.’s holdings in FS KKR Capital were worth $2,260,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Beacon Capital Management Inc. bought a new position in FS KKR Capital during the second quarter worth $26,000. Eastern Bank lifted its stake in FS KKR Capital by 355.6% in the third quarter. Eastern Bank now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,561 shares during the last quarter. Strategic Advocates LLC bought a new stake in FS KKR Capital in the third quarter valued at $38,000. Rothschild Investment LLC lifted its stake in FS KKR Capital by 59.9% in the third quarter. Rothschild Investment LLC now owns 3,194 shares of the company’s stock valued at $48,000 after buying an additional 1,196 shares during the last quarter. Finally, Abbot Financial Management Inc. bought a new stake in FS KKR Capital in the third quarter valued at $154,000. 36.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FSK shares. B. Riley Financial cut their target price on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Truist Financial cut their target price on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Wells Fargo & Company cut their target price on FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. JPMorgan Chase & Co. cut their target price on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Finally, Royal Bank Of Canada cut their target price on FS KKR Capital from $15.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Monday. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $13.07.

FS KKR Capital Price Performance

Shares of FSK opened at $10.73 on Tuesday. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 357.50 and a beta of 0.83. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.05 and a current ratio of 3.05. FS KKR Capital Corp. has a one year low of $9.72 and a one year high of $22.68. The stock’s fifty day moving average is $11.73 and its 200-day moving average is $13.88.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $348.00 million for the quarter, compared to analyst estimates of $361.59 million. FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. During the same period last year, the business posted $0.66 earnings per share. Equities analysts anticipate that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Dividend Announcement

The firm also recently declared a special dividend, which was paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th were issued a dividend of $0.03 per share. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Wednesday, March 18th. FS KKR Capital’s dividend payout ratio (DPR) is 6,000.00%.

Insider Activity at FS KKR Capital

In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of the stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $11.25 per share, with a total value of $56,250.00. Following the completion of the acquisition, the insider owned 64,800 shares of the company’s stock, valued at approximately $729,000. This trade represents a 8.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

FS KKR Capital 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.