Capstone Investment Advisors LLC Makes New Investment in FS KKR Capital Corp. $FSK

Capstone Investment Advisors LLC bought a new stake in FS KKR Capital Corp. (NYSE:FSK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 78,834 shares of the company’s stock, valued at approximately $828,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FSK. Northwestern Mutual Wealth Management Co. raised 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 in the last quarter. Van ECK Associates Corp boosted its holdings in FS KKR Capital by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 4,083,940 shares of the company’s stock valued at $60,484,000 after purchasing an additional 94,262 shares in the last quarter. UBS Group AG increased its position in FS KKR Capital by 15.3% during the 4th quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock worth $56,368,000 after purchasing an additional 505,982 shares during the period. Saba Capital Management L.P. acquired a new position in FS KKR Capital during the 1st quarter worth approximately $35,729,000. Finally, Legal & General Group Plc purchased a new position in shares of FS KKR Capital during the 2nd quarter worth approximately $28,742,000. 36.26% of the stock is currently owned by institutional investors and hedge funds.

FS KKR Capital Price Performance

FSK stock opened at $12.28 on Friday. The firm has a 50 day moving average of $11.17 and a 200-day moving average of $11.08. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -9.10 and a beta of 0.83. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a 12-month low of $9.72 and a 12-month high of $18.25.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $290.00 million for the quarter, compared to analysts’ expectations of $286.75 million. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.During the same quarter in the prior year, the firm posted ($0.75) EPS. As a group, equities analysts expect that FS KKR Capital Corp. will post 1.64 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be given a $0.44 dividend. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.3%. The ex-dividend date is Wednesday, September 16th. FS KKR Capital’s dividend payout ratio (DPR) is -124.44%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FSK. Truist Financial raised their price target on FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, August 7th. Capital One Financial set a $12.00 price objective on FS KKR Capital in a research report on Friday, August 7th. Wall Street Zen raised FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday, August 12th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $11.43.

About FS KKR Capital

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.