Independent Financial Group LLC Invests $11.75 Million in FS KKR Capital Corp. $FSK

Independent Financial Group LLC acquired a new stake in FS KKR Capital Corp. (NYSE:FSK) in the first quarter, Holdings Channel reports. The institutional investor acquired 1,153,934 shares of the company’s stock, valued at approximately $11,747,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FSK. Rockport Wealth LLC raised its position in FS KKR Capital by 9.8% in the 1st quarter. Rockport Wealth LLC now owns 11,367 shares of the company’s stock worth $116,000 after purchasing an additional 1,018 shares during the period. Bank of New York Mellon Corp boosted its position in FS KKR Capital by 47.9% during the first quarter. Bank of New York Mellon Corp now owns 176,040 shares of the company’s stock valued at $1,792,000 after buying an additional 57,042 shares during the period. Three Seasons Wealth LLC purchased a new stake in FS KKR Capital during the first quarter valued at about $207,000. Sanctuary Advisors LLC grew its stake in shares of FS KKR Capital by 12.9% during the first quarter. Sanctuary Advisors LLC now owns 713,670 shares of the company’s stock valued at $7,265,000 after buying an additional 81,653 shares during the last quarter. Finally, Retirement Planning Group LLC bought a new position in shares of FS KKR Capital during the first quarter valued at about $128,000. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Up 2.0%

NYSE FSK opened at $11.11 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $3.11 billion, a PE ratio of -5.64 and a beta of 0.82. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $22.68. The business’s 50-day moving average is $10.68 and its 200 day moving average is $11.65.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The business had revenue of $304.00 million for the quarter, compared to the consensus estimate of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The company’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. Sell-side analysts forecast that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.

FS KKR Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.68 annualized dividend and a dividend yield of 15.1%. FS KKR Capital’s payout ratio is -85.28%.

Analysts Set New Price Targets

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

FS KKR Capital 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.