Sigma Planning Corp Sells 75,350 Shares of FS KKR Capital Corp. $FSK

Sigma Planning Corp trimmed its stake in FS KKR Capital Corp. (NYSE:FSK) by 40.5% during the first quarter, Holdings Channel reports. The fund owned 110,771 shares of the company’s stock after selling 75,350 shares during the period. Sigma Planning Corp’s holdings in FS KKR Capital were worth $1,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Planning Group LLC bought a new stake in shares of FS KKR Capital in the 1st quarter worth approximately $128,000. Sterling Group Wealth Management LLC increased its position in FS KKR Capital by 62.2% in the first quarter. Sterling Group Wealth Management LLC now owns 76,879 shares of the company’s stock worth $783,000 after buying an additional 29,479 shares during the last quarter. Diversify Wealth Management LLC increased its position in FS KKR Capital by 95.0% in the first quarter. Diversify Wealth Management LLC now owns 200,812 shares of the company’s stock worth $2,139,000 after buying an additional 97,808 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of FS KKR Capital in the first quarter valued at $65,000. Finally, Roman Butler Fullerton & Co. lifted its position in shares of FS KKR Capital by 44.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 22,190 shares of the company’s stock valued at $227,000 after buying an additional 6,873 shares during the last quarter. 36.26% of the stock is owned by institutional investors.

FS KKR Capital Price Performance

Shares of NYSE FSK opened at $10.92 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. FS KKR Capital Corp. has a fifty-two week low of $9.72 and a fifty-two week high of $22.68. The stock has a market cap of $3.06 billion, a PE ratio of -5.54 and a beta of 0.82. The stock has a fifty day moving average of $10.69 and a 200-day moving average of $11.64.

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

FS KKR Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, June 17th. This represents a $1.68 annualized dividend and a dividend yield of 15.4%. FS KKR Capital’s dividend payout ratio is currently -85.28%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $11.00 price objective on shares of FS KKR Capital in a report on Tuesday, May 12th. Wells Fargo & Company cut their target price 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. Zacks Research downgraded shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, FS KKR Capital has an average rating of “Reduce” and a consensus target price of $10.58.

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.