Palliser Capital UK Ltd Acquires New Holdings in FS KKR Capital Corp. $FSK

Palliser Capital UK Ltd bought a new position in shares of FS KKR Capital Corp. (NYSE:FSK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 527,840 shares of the company’s stock, valued at approximately $5,542,000. FS KKR Capital accounts for about 3.0% of Palliser Capital UK Ltd’s portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of FSK. Bison Wealth LLC boosted its holdings in FS KKR Capital by 3.4% in the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock valued at $476,000 after purchasing an additional 720 shares during the period. Goldman Sachs Group Inc. grew its position in shares of FS KKR Capital by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock valued at $5,612,000 after purchasing an additional 32,258 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of FS KKR Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock worth $560,000 after purchasing an additional 15,596 shares during the period. Marshall Wace LLP purchased a new stake in shares of FS KKR Capital in the second quarter worth $1,806,000. Finally, Nebula Research & Development LLC raised its position in shares of FS KKR Capital by 83.1% in the second quarter. Nebula Research & Development LLC now owns 20,236 shares of the company’s stock worth $420,000 after buying an additional 9,183 shares in the last quarter. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

FS KKR Capital Stock Performance

FS KKR Capital stock opened at $12.06 on Tuesday. The firm has a fifty day simple moving average of $11.03 and a two-hundred day simple moving average of $11.09. 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 twelve month low of $9.72 and a twelve month high of $18.25. The company has a market capitalization of $3.33 billion, a PE ratio of -8.94 and a beta of 0.83.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The firm 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 period last year, the firm earned ($0.75) earnings per share. Research analysts expect that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 16th. This represents a $1.76 annualized dividend and a yield of 14.6%. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s dividend payout ratio (DPR) is currently -124.44%.

Analyst Ratings Changes

Several research firms recently commented on FSK. Truist Financial boosted their target price on FS KKR Capital from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $13.00 price target (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Capital One Financial set a $12.00 price target on FS KKR Capital in a research report on Friday, August 7th. Wall Street Zen upgraded shares of FS KKR Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target 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.