Focus Partners Advisor Solutions LLC Takes Position in FS KKR Capital Corp. $FSK

Focus Partners Advisor Solutions LLC acquired a new position in shares of FS KKR Capital Corp. (NYSE:FSK) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 230,514 shares of the company’s stock, valued at approximately $2,420,000.

Several other hedge funds have also modified their holdings of the stock. Bison Wealth LLC raised its stake in FS KKR Capital by 3.4% during the fourth quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock worth $476,000 after purchasing an additional 720 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of FS KKR Capital by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock valued at $5,612,000 after buying an additional 32,258 shares during the period. Empowered Funds LLC grew its stake in shares of FS KKR Capital by 139.9% during the 1st quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock valued at $560,000 after buying an additional 15,596 shares during the period. Marshall Wace LLP acquired a new stake in shares of FS KKR Capital during the 2nd quarter worth $1,806,000. Finally, Nebula Research & Development LLC increased its holdings in shares of FS KKR Capital by 83.1% during the 2nd quarter. Nebula Research & Development LLC now owns 20,236 shares of the company’s stock worth $420,000 after buying an additional 9,183 shares during the last quarter. 36.26% of the stock is owned by institutional investors and hedge funds.

FS KKR Capital Stock Performance

Shares of FSK stock opened at $12.37 on Friday. The company’s fifty day simple moving average is $10.90 and its 200-day simple moving average is $11.19. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $18.25. The company has a current ratio of 2.28, a quick ratio of 2.00 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.42 billion, a PE ratio of -9.16 and a beta of 0.83.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. The business had revenue of $290.00 million for the quarter, compared to analyst estimates of $286.75 million. During the same quarter in the previous year, the business posted ($0.75) EPS. As a group, equities research analysts anticipate that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

The business 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 represents a $1.76 annualized dividend and a yield of 14.2%. 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. FS KKR Capital’s dividend payout ratio is -124.44%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FSK. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Truist Financial upped their price target on FS KKR Capital from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, August 7th. Wells Fargo & Company cut their price objective on 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday. Finally, Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a report 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $11.21.

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.