Wells Fargo & Company Cuts Kayne Anderson BDC (NYSE:KBDC) Price Target to $14.00

Kayne Anderson BDC (NYSE:KBDC) had its target price lowered by Wells Fargo & Company from $15.00 to $14.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada reduced their price objective on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Keefe, Bruyette & Woods dropped their target price on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

Kayne Anderson BDC Trading Down 1.7%

Shares of NYSE KBDC opened at $13.68 on Wednesday. The firm has a 50 day moving average price of $14.23 and a two-hundred day moving average price of $14.48. The stock has a market cap of $916.29 million, a P/E ratio of 10.29 and a beta of 0.23. Kayne Anderson BDC has a 52-week low of $13.06 and a 52-week high of $16.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.46 and a current ratio of 1.26.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of ($25.53) million for the quarter, compared to analyst estimates of $56.48 million. Kayne Anderson BDC had a return on equity of 10.23% and a net margin of 39.74%. As a group, equities analysts forecast that Kayne Anderson BDC will post 2.06 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Tuesday, March 31st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Kayne Anderson BDC’s dividend payout ratio is presently 120.30%.

Institutional Investors Weigh In On Kayne Anderson BDC

Several large investors have recently made changes to their positions in KBDC. Hennion & Walsh Asset Management Inc. bought a new position in shares of Kayne Anderson BDC in the third quarter worth $539,000. AG Asset Advisory LLC bought a new stake in Kayne Anderson BDC during the third quarter valued at $2,708,000. Franklin Resources Inc. boosted its stake in Kayne Anderson BDC by 186.7% during the second quarter. Franklin Resources Inc. now owns 223,657 shares of the company’s stock valued at $3,413,000 after buying an additional 145,637 shares during the period. Sage Mountain Advisors LLC grew its position in Kayne Anderson BDC by 13.8% during the third quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company’s stock worth $14,099,000 after buying an additional 128,061 shares in the last quarter. Finally, North Ground Capital bought a new position in Kayne Anderson BDC in the 3rd quarter worth about $1,332,000.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc (NYSE: KBDC) is a closed-end, non-diversified management investment company structured as a business development company under the Investment Company Act of 1940. The firm focuses on providing bespoke financing solutions to U.S. middle-market companies, offering first-lien and second-lien secured loans, unitranche facilities, mezzanine debt and selected equity co-investments. KBDC targets businesses with EBITDA profiles generally ranging from $10 million to $100 million, aiming to generate attractive income and potential capital appreciation for shareholders.

The company’s portfolio spans a variety of sectors, including healthcare, technology, energy services, consumer products and industrials.