Everest Financial Group LLC Takes Position in FS KKR Capital Corp. $FSK

Everest Financial Group LLC purchased a new stake in FS KKR Capital Corp. (NYSE:FSK) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 48,506 shares of the company’s stock, valued at approximately $494,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in FS KKR Capital by 55,074.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock worth $114,644,000 after purchasing an additional 7,726,974 shares during the last quarter. Oak Hill Advisors LP acquired a new position in shares of FS KKR Capital during the 4th quarter worth about $38,659,000. Balyasny Asset Management L.P. acquired a new position in shares of FS KKR Capital during the 3rd quarter worth about $21,917,000. Callodine Capital Management LP bought a new position in shares of FS KKR Capital in the 1st quarter valued at about $13,587,000. Finally, Independent Financial Group LLC bought a new position in shares of FS KKR Capital in the 1st quarter valued at about $11,747,000. 36.26% of the stock is owned by institutional investors and hedge funds.

FS KKR Capital Price Performance

NYSE:FSK opened at $10.62 on Monday. The company has a market cap of $2.98 billion, a P/E ratio of -5.39 and a beta of 0.82. The firm’s fifty day moving average price is $10.68 and its two-hundred day moving average price is $11.48. FS KKR Capital Corp. has a one year low of $9.72 and a one year high of $22.30. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.00 and a quick ratio of 2.00.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The company had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. During the same quarter last year, the company posted $0.65 EPS. The firm’s quarterly revenue was down 24.0% on a year-over-year basis. Equities analysts expect that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.

FS KKR Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 15.8%. The ex-dividend date was Wednesday, June 17th. FS KKR Capital’s dividend payout ratio is presently -85.28%.

Analyst Upgrades and Downgrades

FSK has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Wells Fargo & Company decreased their price objective on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Royal Bank Of Canada restated a “sector perform” rating and set a $11.00 price objective on shares of FS KKR Capital in a research note on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $10.58.

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.