Bulldog Investors LLP Makes New Investment in FS KKR Capital Corp. $FSK

Bulldog Investors LLP bought a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) in the third quarter, Holdings Channel reports. The firm bought 241,118 shares of the company’s stock, valued at approximately $3,600,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Beacon Capital Management Inc. acquired a new position in shares of FS KKR Capital in the second quarter worth $26,000. Eastern Bank boosted its position in FS KKR Capital by 355.6% during the third quarter. Eastern Bank now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,561 shares during the last quarter. Rothschild Investment LLC grew its stake in FS KKR Capital by 59.9% in the third quarter. Rothschild Investment LLC now owns 3,194 shares of the company’s stock valued at $48,000 after purchasing an additional 1,196 shares in the last quarter. Pineridge Advisors LLC grew its stake in FS KKR Capital by 27.9% in the second quarter. Pineridge Advisors LLC now owns 6,988 shares of the company’s stock valued at $145,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Foundations Investment Advisors LLC acquired a new position in FS KKR Capital in the 2nd quarter worth about $202,000. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

FS KKR Capital Stock Down 1.5%

Shares of FSK stock opened at $10.09 on Friday. The stock’s 50 day simple moving average is $13.10 and its 200 day simple moving average is $14.73. FS KKR Capital Corp. has a twelve month low of $10.06 and a twelve month high of $22.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.05 and a current ratio of 3.05. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 336.17 and a beta of 0.86.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). FS KKR Capital had a return on equity of 5.21% and a net margin of 0.72%.The company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $361.59 million. During the same period in the previous year, the company earned $0.66 EPS. As a group, research analysts predict that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be issued a dividend of $0.03 per share. This represents a dividend yield of 1,595.0%. The ex-dividend date of this dividend is Wednesday, March 18th. FS KKR Capital’s dividend payout ratio is currently 6,000.00%.

Insider Transactions at FS KKR Capital

In other news, insider Daniel Pietrzak bought 5,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $11.25 per share, for a total transaction of $56,250.00. Following the purchase, the insider owned 64,800 shares of the company’s stock, valued at $729,000. This represents a 8.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

FSK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their price target on FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Monday, March 2nd. Zacks Research cut FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. B. Riley Financial dropped their price objective on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Truist Financial cut their price objective on shares of FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Finally, Royal Bank Of Canada decreased their target price on shares of FS KKR Capital from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 27th. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, FS KKR Capital has an average rating of “Reduce” and a consensus target price of $13.36.

FS KKR Capital 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.