FS KKR Capital (NYSE:FSK) Price Target Lowered to $9.50 at JPMorgan Chase & Co.

FS KKR Capital (NYSE:FSK) had its price objective reduced by JPMorgan Chase & Co. from $13.00 to $9.50 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently issued reports on FSK. Keefe, Bruyette & Woods cut their price target on FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating on the stock in a report on Monday, March 2nd. Wells Fargo & Company lowered their price objective on FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Weiss Ratings lowered FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Zacks Research cut FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen downgraded shares of FS KKR Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $13.36.

FS KKR Capital Trading Down 1.5%

FSK opened at $10.09 on Friday. FS KKR Capital has a fifty-two week low of $10.06 and a fifty-two week high of $22.68. The company’s 50-day moving average price is $13.10 and its 200 day moving average price is $14.76. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.31.

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

FS KKR Capital Announces Dividend

The business also recently announced a special dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be issued a $0.03 dividend. This represents a dividend yield of 1,595.0%. The ex-dividend date is Wednesday, March 18th. FS KKR Capital’s payout ratio is presently 8,533.33%.

Insider Activity

In related news, insider Daniel Pietrzak bought 5,000 shares of FS KKR Capital stock in a transaction dated Friday, February 27th. The stock was acquired 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 directly owned 64,800 shares in the company, valued at approximately $729,000. This trade represents a 8.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On FS KKR Capital

A number of institutional investors have recently bought and sold shares of the stock. CCLA Investment Management raised its stake in FS KKR Capital by 5.6% during the 3rd quarter. CCLA Investment Management now owns 1,703,635 shares of the company’s stock valued at $25,435,000 after purchasing an additional 90,167 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of FS KKR Capital by 58.2% in the second quarter. Geneos Wealth Management Inc. now owns 559,345 shares of the company’s stock valued at $11,606,000 after purchasing an additional 205,823 shares in the last quarter. AA Financial Advisors LLC boosted its position in shares of FS KKR Capital by 24.9% in the third quarter. AA Financial Advisors LLC now owns 185,859 shares of the company’s stock worth $2,775,000 after buying an additional 37,001 shares during the period. Corient Private Wealth LLC boosted its position in shares of FS KKR Capital by 291.1% in the second quarter. Corient Private Wealth LLC now owns 48,324 shares of the company’s stock worth $1,003,000 after buying an additional 35,968 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of FS KKR Capital by 19.1% during the second quarter. Franklin Resources Inc. now owns 539,022 shares of the company’s stock valued at $11,185,000 after buying an additional 86,456 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

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.