Legacy Wealth Managment LLC ID Has $122,000 Stock Holdings in FS KKR Capital Corp. $FSK

Legacy Wealth Managment LLC ID decreased its position in FS KKR Capital Corp. (NYSE:FSK) by 92.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,651 shares of the company’s stock after selling 139,126 shares during the quarter. Legacy Wealth Managment LLC ID’s holdings in FS KKR Capital were worth $122,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in FS KKR Capital by 55,074.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock valued at $114,644,000 after purchasing an additional 7,726,974 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of FS KKR Capital by 13.4% during the second quarter. Van ECK Associates Corp now owns 5,382,748 shares of the company’s stock worth $56,519,000 after buying an additional 636,889 shares in the last quarter. Saba Capital Management L.P. bought a new position in shares of FS KKR Capital in the first quarter valued at approximately $35,729,000. UBS Group AG raised its stake in shares of FS KKR Capital by 12.1% in the third quarter. UBS Group AG now owns 3,300,094 shares of the company’s stock valued at $49,270,000 after acquiring an additional 355,745 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of FS KKR Capital in the 2nd quarter worth approximately $28,742,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on FS KKR Capital from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Capital One Financial set a $12.00 price objective on FS KKR Capital in a research note on Friday, August 7th. Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada restated a “sector perform” rating and issued a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, FS KKR Capital presently has an average rating of “Reduce” and a consensus target price of $11.43.

FS KKR Capital Trading Up 1.1%

Shares of FSK opened at $12.46 on Friday. The company has a quick ratio of 2.28, a current 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 $18.21. The firm has a market capitalization of $3.44 billion, a PE ratio of -9.23 and a beta of 0.83. The stock’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $11.05.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.The company had revenue of $290.00 million during the quarter, compared to analyst estimates of $286.75 million. During the same period in the previous year, the company earned ($0.75) EPS. As a group, research analysts predict that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.

FS KKR Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.44 per share. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 14.1%. The ex-dividend date of this dividend is Wednesday, September 16th. FS KKR Capital’s payout ratio is currently -124.44%.

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.