M&G PLC Sells 125,000 Shares of FS KKR Capital Corp. $FSK

M&G PLC cut its position in FS KKR Capital Corp. (NYSE:FSK) by 18.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 535,000 shares of the company’s stock after selling 125,000 shares during the period. M&G PLC’s holdings in FS KKR Capital were worth $11,235,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Fountainhead AM LLC raised its position in FS KKR Capital by 9.5% in the 2nd quarter. Fountainhead AM LLC now owns 983,584 shares of the company’s stock worth $20,409,000 after buying an additional 85,525 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of FS KKR Capital by 10.8% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 51,810 shares of the company’s stock worth $1,075,000 after acquiring an additional 5,054 shares during the period. Prospera Financial Services Inc increased its position in FS KKR Capital by 54.8% during the second quarter. Prospera Financial Services Inc now owns 46,771 shares of the company’s stock valued at $971,000 after acquiring an additional 16,556 shares during the last quarter. Legacy Wealth Managment LLC ID lifted its holdings in FS KKR Capital by 14.0% in the second quarter. Legacy Wealth Managment LLC ID now owns 168,407 shares of the company’s stock valued at $3,494,000 after acquiring an additional 20,712 shares during the period. Finally, Savant Capital LLC boosted its position in FS KKR Capital by 37.0% in the second quarter. Savant Capital LLC now owns 21,685 shares of the company’s stock worth $450,000 after purchasing an additional 5,857 shares during the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Up 0.9%

NYSE FSK opened at $15.63 on Thursday. FS KKR Capital Corp. has a one year low of $14.05 and a one year high of $24.10. The stock has a 50 day moving average price of $15.55 and a 200-day moving average price of $18.67. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $373.00 million during the quarter, compared to analyst estimates of $374.89 million. FS KKR Capital had a return on equity of 5.63% and a net margin of 17.24%.During the same quarter last year, the business posted $0.74 earnings per share. On average, equities analysts forecast that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 16.4%. The ex-dividend date is Wednesday, December 3rd. FS KKR Capital’s dividend payout ratio (DPR) is 263.92%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FSK. Keefe, Bruyette & Woods lowered their price objective on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating on the stock in a research note on Monday. Wells Fargo & Company upgraded shares of FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 price target on the stock in a research report on Monday, October 6th. Zacks Research downgraded shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of FS KKR Capital from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $17.67.

Insider Transactions at FS KKR Capital

In other news, CEO Michael C. Forman purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average cost of $15.50 per share, for a total transaction of $155,000.00. Following the acquisition, the chief executive officer owned 24,220 shares of the company’s stock, valued at approximately $375,410. This trade represents a 70.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Pietrzak acquired 10,000 shares of FS KKR Capital stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $15.15 per share, for a total transaction of $151,500.00. Following the completion of the transaction, the insider directly owned 59,800 shares in the company, valued at $905,970. This trade represents a 20.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 20,330 shares of company stock valued at $312,480. 0.18% of the stock is owned by corporate insiders.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.