Legacy Wealth Managment LLC ID Sells 56,170 Shares of FS KKR Capital Corp. $FSK

Legacy Wealth Managment LLC ID reduced its position in FS KKR Capital Corp. (NYSE:FSK) by 27.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,777 shares of the company’s stock after selling 56,170 shares during the quarter. Legacy Wealth Managment LLC ID’s holdings in FS KKR Capital were worth $1,535,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Titan Investment Management LLC bought a new position in FS KKR Capital in the 4th quarter worth about $1,863,000. UBS Group AG raised its stake in shares of FS KKR Capital by 15.3% during the fourth quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock valued at $56,368,000 after acquiring an additional 505,982 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in shares of FS KKR Capital by 48.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 313,615 shares of the company’s stock valued at $4,645,000 after purchasing an additional 102,864 shares during the period. Legal & General Group Plc boosted its holdings in shares of FS KKR Capital by 15.3% in the fourth quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock valued at $33,993,000 after purchasing an additional 304,556 shares during the period. Finally, Marble Wealth LLC bought a new position in FS KKR Capital in the fourth quarter worth approximately $1,567,000. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

Shares of NYSE:FSK opened at $10.85 on Tuesday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -5.51 and a beta of 0.82. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $22.52. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $10.69 and a 200 day moving average of $11.59.

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

FS KKR Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors 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 dividend yield of 15.5%. The ex-dividend date was Wednesday, June 17th. FS KKR Capital’s dividend payout ratio is -85.28%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FSK shares. Wells Fargo & Company reduced their price objective on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Keefe, Bruyette & Woods cut their price target on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th. Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $11.00 price objective on shares of FS KKR Capital in a research note on Tuesday, May 12th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price 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.