Investmark Advisory Group LLC Acquires New Shares in FS KKR Capital Corp. $FSK

Investmark Advisory Group LLC bought a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 162,873 shares of the company’s stock, valued at approximately $1,710,000. FS KKR Capital comprises 0.6% of Investmark Advisory Group LLC’s investment portfolio, making the stock its 28th largest holding. Investmark Advisory Group LLC owned approximately 0.06% of FS KKR Capital at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FSK. Jessup Wealth Management Inc purchased a new position in shares of FS KKR Capital in the fourth quarter worth $26,000. Harborfront Financial Group LLC purchased a new stake in shares of FS KKR Capital during the second quarter valued at $30,000. Basepoint Wealth LLC purchased a new stake in shares of FS KKR Capital during the fourth quarter valued at $31,000. Smartleaf Asset Management LLC increased its holdings in FS KKR Capital by 201.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock worth $40,000 after buying an additional 1,789 shares in the last quarter. Finally, Knott David M Jr bought a new stake in FS KKR Capital in the 4th quarter worth about $43,000. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Down 0.7%

FSK stock opened at $11.93 on Wednesday. The business’s 50-day moving average price is $10.94 and its 200-day moving average price is $11.14. The stock 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 quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $18.25.

FS KKR Capital (NYSE:FSK) last released its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $290.00 million during the quarter, compared to analyst estimates of $286.75 million. During the same period in the prior year, the firm posted ($0.75) EPS. On average, equities research analysts forecast that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.8%. 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 currently -124.44%.

Analyst Upgrades and Downgrades

FSK has been the topic of several research analyst reports. Truist Financial upped their target price on shares of FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Wall Street Zen raised shares of FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reissued a “sector perform” rating and set a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, FS KKR Capital currently has an average rating of “Reduce” and a consensus 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.