Kestra Advisory Services LLC Raises Position in FS KKR Capital Corp. $FSK

Kestra Advisory Services LLC grew its stake in FS KKR Capital Corp. (NYSE:FSK) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 780,656 shares of the company’s stock after purchasing an additional 48,352 shares during the quarter. Kestra Advisory Services LLC owned approximately 0.28% of FS KKR Capital worth $7,947,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in FS KKR Capital by 55,074.7% in 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 buying an additional 7,726,974 shares during the last quarter. Van ECK Associates Corp boosted its holdings in FS KKR Capital by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 4,083,940 shares of the company’s stock worth $60,484,000 after acquiring an additional 94,262 shares during the last quarter. UBS Group AG grew its stake in shares of FS KKR Capital by 15.3% in the 4th quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock worth $56,368,000 after acquiring an additional 505,982 shares in the last quarter. Oak Hill Advisors LP bought a new stake in shares of FS KKR Capital in the 4th quarter worth $38,659,000. Finally, Legal & General Group Plc raised 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 last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Analyst Ratings Changes

FSK has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods dropped their target price on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. Royal Bank Of Canada restated a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company reduced their target price on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Seven 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 has a consensus rating of “Reduce” and a consensus target price of $10.58.

FS KKR Capital Price Performance

Shares of NYSE:FSK opened at $10.81 on Tuesday. The company’s 50-day moving average is $10.71 and its 200 day moving average is $11.72. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $3.03 billion, a P/E ratio of -5.49 and a beta of 0.82. FS KKR Capital Corp. has a fifty-two week low of $9.72 and a fifty-two week high of $22.68.

FS KKR Capital (NYSE:FSK) last posted 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). The company had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $316.81 million. FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.The business’s quarterly revenue was down 24.0% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, equities research analysts forecast 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 paid 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 15.5%. FS KKR Capital’s dividend payout ratio (DPR) is presently -85.28%.

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.