Van ECK Associates Corp Acquires 752,956 Shares of FS KKR Capital Corp. $FSK

Van ECK Associates Corp boosted its holdings in FS KKR Capital Corp. (NYSE:FSK) by 23.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,989,678 shares of the company’s stock after purchasing an additional 752,956 shares during the quarter. Van ECK Associates Corp’s holdings in FS KKR Capital were worth $59,566,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FSK. Generali Asset Management SPA SGR lifted its holdings in shares of FS KKR Capital by 2.5% in the third quarter. Generali Asset Management SPA SGR now owns 2,546,371 shares of the company’s stock worth $38,017,000 after buying an additional 61,106 shares in the last quarter. Legal & General Group Plc grew its stake in FS KKR Capital by 3.2% during the second quarter. Legal & General Group Plc now owns 2,147,309 shares of the company’s stock valued at $44,546,000 after acquiring an additional 66,943 shares in the last quarter. CCLA Investment Management increased its holdings in FS KKR Capital by 5.6% in the 3rd quarter. CCLA Investment Management now owns 1,703,635 shares of the company’s stock valued at $25,435,000 after acquiring an additional 90,167 shares during the last quarter. Osaic Holdings Inc. lifted its stake in FS KKR Capital by 6.3% in the 2nd quarter. Osaic Holdings Inc. now owns 1,137,986 shares of the company’s stock worth $23,617,000 after purchasing an additional 67,785 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of FS KKR Capital by 3.0% during the 2nd quarter. Cetera Investment Advisers now owns 998,576 shares of the company’s stock valued at $20,720,000 after purchasing an additional 29,438 shares during the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

FS KKR Capital Stock Performance

Shares of FS KKR Capital stock opened at $10.56 on Wednesday. The firm’s 50 day moving average price is $13.37 and its 200-day moving average price is $14.87. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 1.31. FS KKR Capital Corp. has a 52-week low of $10.28 and a 52-week high of $22.74.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $348.00 million for the quarter, compared to analysts’ expectations of $361.59 million. FS KKR Capital had a net margin of 0.72% and a return on equity of 5.21%. During the same period in the previous year, the company earned $0.66 EPS. As a group, sell-side analysts predict that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th will be issued a dividend of $0.03 per share. This represents a dividend yield of 1,595.0%. The ex-dividend date is Wednesday, March 18th. FS KKR Capital’s dividend payout ratio is currently 8,533.33%.

Insider Buying and Selling at FS KKR Capital

In other FS KKR Capital news, insider Daniel Pietrzak acquired 5,000 shares of the stock in a transaction dated Friday, February 27th. The stock was purchased at an average price of $11.25 per share, with a total value of $56,250.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

FSK has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Truist Financial dropped their price objective on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Weiss Ratings downgraded FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Wall Street Zen lowered shares of FS KKR Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Monday, March 2nd. Seven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $14.14.

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.