Bulldog Investors LLP Buys Shares of 241,118 FS KKR Capital Corp. $FSK

Bulldog Investors LLP purchased a new position in shares of FS KKR Capital Corp. (NYSE:FSK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 241,118 shares of the company’s stock, valued at approximately $3,600,000.

Other institutional investors also recently made changes to their positions in the company. Beacon Capital Management Inc. bought a new position in shares of FS KKR Capital in the second quarter valued at approximately $26,000. Eastern Bank raised its holdings in FS KKR Capital by 355.6% during the third quarter. Eastern Bank now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,561 shares in the last quarter. Rothschild Investment LLC lifted its position in FS KKR Capital by 59.9% in the third quarter. Rothschild Investment LLC now owns 3,194 shares of the company’s stock worth $48,000 after purchasing an additional 1,196 shares during the period. Pineridge Advisors LLC lifted its position in FS KKR Capital by 27.9% in the second quarter. Pineridge Advisors LLC now owns 6,988 shares of the company’s stock worth $145,000 after purchasing an additional 1,525 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new stake in FS KKR Capital in the second quarter worth approximately $202,000. 36.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FSK shares. Truist Financial lowered their price target on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Zacks Research lowered shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Keefe, Bruyette & Woods decreased their price target on FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Monday, March 2nd. Weiss Ratings cut shares of FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Finally, B. Riley Financial dropped their target price on shares of FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.36.

FS KKR Capital Stock Performance

Shares of FS KKR Capital stock opened at $10.09 on Friday. FS KKR Capital Corp. has a 12 month low of $10.06 and a 12 month high of $22.68. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. The stock has a market cap of $2.82 billion, a PE ratio of 336.17 and a beta of 0.86. The business has a fifty day simple moving average of $13.10 and a 200-day simple moving average of $14.73.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). FS KKR Capital had a return on equity of 5.21% and a net margin of 0.72%.The business had revenue of $348.00 million during the quarter, compared to analysts’ expectations of $361.59 million. During the same period in the prior year, the company posted $0.66 earnings per share. On average, sell-side analysts anticipate that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, March 18th. This represents a dividend yield of 1,595.0%. FS KKR Capital’s dividend payout ratio is currently 6,000.00%.

Insider Activity

In related news, insider Daniel Pietrzak purchased 5,000 shares of FS KKR Capital stock in a transaction dated Friday, February 27th. The stock was acquired at an average cost of $11.25 per share, with a total value of $56,250.00. Following the completion of the transaction, the insider directly owned 64,800 shares of the company’s stock, valued at $729,000. This trade represents a 8.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

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.