Diversify Advisory Services LLC Makes New Investment in FS KKR Capital Corp. $FSK

Diversify Advisory Services LLC acquired a new stake in FS KKR Capital Corp. (NYSE:FSK) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 201,020 shares of the company’s stock, valued at approximately $2,178,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Titan Investment Management LLC acquired a new position in shares of FS KKR Capital in the fourth quarter valued at approximately $1,863,000. UBS Group AG raised its stake in FS KKR Capital by 15.3% in the fourth quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock valued at $56,368,000 after buying an additional 505,982 shares in the last quarter. Marble Wealth LLC acquired a new stake in shares of FS KKR Capital during the 4th quarter worth about $1,567,000. Legacy Capital Group California Inc. lifted its position in shares of FS KKR Capital by 48.8% during the 4th quarter. Legacy Capital Group California Inc. now owns 313,615 shares of the company’s stock worth $4,645,000 after buying an additional 102,864 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in FS KKR Capital by 15.3% in the fourth quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock valued at $33,993,000 after acquiring an additional 304,556 shares during the last quarter. Institutional investors and hedge funds own 36.26% of the company’s stock.

FS KKR Capital Stock Down 0.7%

Shares of NYSE FSK opened at $11.93 on Wednesday. The company has a market cap of $3.30 billion, a P/E ratio of -8.83 and a beta of 0.83. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a 12-month low of $9.72 and a 12-month high of $18.25. The stock has a fifty day moving average price of $10.94 and a 200 day moving average price of $11.14.

FS KKR Capital (NYSE:FSK) last announced 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. The business had revenue of $290.00 million during the quarter, compared to the consensus estimate of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same period in the prior year, the firm earned ($0.75) earnings per share. Research analysts anticipate that FS KKR Capital Corp. will post 1.64 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be issued a $0.44 dividend. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 16th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.8%. FS KKR Capital’s dividend payout ratio (DPR) is presently -124.44%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FSK. Wall Street Zen raised FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Capital One Financial set a $12.00 target price on FS KKR Capital in a research report on Friday, August 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $13.00 price target (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, FS KKR Capital presently has a consensus rating of “Reduce” and an average target price of $11.21.

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.