FS KKR Capital Corp. $FSK Stake Increased by Lazard Asset Management LLC

Lazard Asset Management LLC increased its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 116.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,024 shares of the company’s stock after buying an additional 115,700 shares during the quarter. Lazard Asset Management LLC owned 0.08% of FS KKR Capital worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FSK. Titan Investment Management LLC purchased a new position in FS KKR Capital during the 4th quarter valued at about $1,863,000. UBS Group AG lifted its position in shares of FS KKR Capital by 15.3% in the fourth quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock worth $56,368,000 after purchasing an additional 505,982 shares in the last quarter. Legacy Capital Group California Inc. lifted its position in shares of FS KKR Capital by 48.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 313,615 shares of the company’s stock worth $4,645,000 after purchasing an additional 102,864 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of FS KKR Capital by 15.3% during the fourth quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock worth $33,993,000 after purchasing an additional 304,556 shares during the period. Finally, Marble Wealth LLC acquired a new stake in shares of FS KKR Capital during the fourth quarter worth approximately $1,567,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Analyst Ratings Changes

FSK has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th. Zacks Research lowered shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wells Fargo & Company lowered their price target on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen raised shares of FS KKR Capital from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Six analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, FS KKR Capital presently has a consensus rating of “Reduce” and a consensus target price of $10.58.

FS KKR Capital Price Performance

NYSE FSK opened at $10.56 on Monday. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $21.34. The company has a fifty day simple moving average of $10.68 and a 200 day simple moving average of $11.35. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38. The company has a market cap of $2.96 billion, a P/E ratio of -5.36 and a beta of 0.82.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate 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 revenue was down 24.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, sell-side analysts predict that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 15.9%. The ex-dividend date of this dividend was Wednesday, June 17th. FS KKR Capital’s payout ratio is currently -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.