Geneos Wealth Management Inc. Trims Stake in FS KKR Capital Corp. $FSK

Geneos Wealth Management Inc. cut its stake in FS KKR Capital Corp. (NYSE:FSK) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 469,244 shares of the company’s stock after selling 90,101 shares during the quarter. Geneos Wealth Management Inc. owned approximately 0.17% of FS KKR Capital worth $7,006,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Bison Wealth LLC lifted its stake in shares of FS KKR Capital by 3.4% in the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock valued at $476,000 after purchasing an additional 720 shares during the period. NewEdge Advisors LLC increased its holdings in FS KKR Capital by 10.0% in the first quarter. NewEdge Advisors LLC now owns 244,081 shares of the company’s stock valued at $5,114,000 after buying an additional 22,116 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of FS KKR Capital in the first quarter worth about $473,000. Goldman Sachs Group Inc. boosted its stake in shares of FS KKR Capital by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock worth $5,612,000 after acquiring an additional 32,258 shares in the last quarter. Finally, Sciencast Management LP purchased a new stake in shares of FS KKR Capital during the 1st quarter worth about $487,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael C. Forman acquired 10,000 shares of FS KKR Capital stock in a transaction that occurred on Tuesday, November 11th. The shares were purchased at an average price of $15.50 per share, for a total transaction of $155,000.00. Following the completion of the transaction, the chief executive officer owned 24,220 shares in the company, valued at $375,410. This represents a 70.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Pietrzak acquired 10,000 shares of the stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $15.15 per share, for a total transaction of $151,500.00. Following 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FSK shares. Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada decreased their target price on FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Friday, November 14th. Keefe, Bruyette & Woods dropped their price target on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of FS KKR Capital in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of FS KKR Capital from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.50.

FS KKR Capital Stock Performance

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

FS KKR Capital (NYSE:FSK) last released its earnings results on Wednesday, November 5th. The company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $373.00 million during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.74 earnings per share. As a group, research analysts forecast that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Cuts Dividend

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

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.