Van ECK Associates Corp Raises Holdings in FS KKR Capital Corp. $FSK

Van ECK Associates Corp lifted its stake in FS KKR Capital Corp. (NYSE:FSK) by 23.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,989,678 shares of the company’s stock after acquiring an additional 752,956 shares during the period. Van ECK Associates Corp’s holdings in FS KKR Capital were worth $59,566,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

FSK has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating on the stock in a report on Monday, March 2nd. B. Riley Financial lowered their price target on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Royal Bank Of Canada dropped their price target on FS KKR Capital from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 27th. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Wells Fargo & Company reduced their price objective on FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $14.14.

Insider Buying and Selling at FS KKR Capital

In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of FS KKR Capital stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $11.25 per share, with a total value of $56,250.00. Following the acquisition, the insider owned 64,800 shares of the company’s stock, valued at $729,000. This trade represents a 8.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

FS KKR Capital Stock Down 2.2%

Shares of NYSE:FSK opened at $10.56 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 3.05. FS KKR Capital Corp. has a 12-month low of $10.28 and a 12-month high of $22.74. The business has a 50 day moving average of $13.37 and a two-hundred day moving average of $14.87.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings data 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 analyst estimates of $361.59 million. FS KKR Capital had a return on equity of 5.21% and a net margin of 0.72%.During the same period in the previous year, the business earned $0.66 EPS. As a group, research analysts expect that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Announces Dividend

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

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.