Diversify Advisory Services LLC Purchases New Stake in FS KKR Capital Corp. $FSK

Diversify Advisory Services LLC bought a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 201,020 shares of the company’s stock, valued at approximately $2,178,000. Diversify Advisory Services LLC owned 0.07% of FS KKR Capital as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Investmark Advisory Group LLC bought a new position in FS KKR Capital during the second quarter worth about $1,710,000. Alamar Capital Management LLC bought a new stake in shares of FS KKR Capital in the second quarter valued at approximately $153,000. Harborfront Financial Group LLC purchased a new stake in shares of FS KKR Capital during the 2nd quarter valued at approximately $30,000. BlackRock Inc. purchased a new stake in shares of FS KKR Capital during the 2nd quarter valued at approximately $11,115,000. Finally, Succession Financial Inc. bought a new position in FS KKR Capital in the 2nd quarter worth approximately $186,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

Shares of NYSE FSK opened at $11.93 on Wednesday. The firm’s 50-day moving average price is $10.94 and its 200-day moving average price is $11.14. FS KKR Capital Corp. has a 52-week low of $9.72 and a 52-week high of $18.25. The company has a market cap of $3.30 billion, a PE ratio of -8.83 and a beta of 0.83. 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 (NYSE:FSK) last released its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $290.00 million during the quarter, compared to analyst estimates of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same period in the prior year, the firm posted ($0.75) EPS. As a group, analysts anticipate that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Wednesday, September 16th will be given a $0.44 dividend. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.76 annualized dividend and a yield of 14.8%. FS KKR Capital’s dividend payout ratio is currently -124.44%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FSK. Wall Street Zen raised FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Wells Fargo & Company decreased their target price 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. Capital One Financial set a $12.00 price target on shares of FS KKR Capital in a report on Friday, August 7th. Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Finally, Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, FS KKR Capital currently has an average rating of “Reduce” and an average target price of $11.21.

FS KKR Capital Company Profile

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.