Lazard Asset Management LLC Has $2.19 Million Stock Position in FS KKR Capital Corp. $FSK

Lazard Asset Management LLC increased its stake in shares of FS KKR Capital Corp. (NYSE:FSK) by 116.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,024 shares of the company’s stock after acquiring an additional 115,700 shares during the quarter. Lazard Asset Management LLC’s holdings in FS KKR Capital were worth $2,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FSK. Northwestern Mutual Wealth Management Co. increased its holdings in shares of FS KKR Capital by 55,074.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock worth $114,644,000 after purchasing an additional 7,726,974 shares during the period. Oak Hill Advisors LP acquired a new stake in FS KKR Capital during the fourth quarter worth about $38,659,000. Balyasny Asset Management L.P. acquired a new stake in FS KKR Capital during the third quarter worth about $21,917,000. Callodine Capital Management LP bought a new position in FS KKR Capital during the first quarter valued at about $13,587,000. Finally, Independent Financial Group LLC acquired a new position in FS KKR Capital in the 1st quarter valued at approximately $11,747,000. 36.26% of the stock is owned by institutional investors.

FS KKR Capital Stock Down 0.0%

Shares of FSK opened at $10.56 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average price of $10.68 and a two-hundred day moving average price of $11.35. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -5.36 and a beta of 0.82. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $21.34.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The company had revenue of $304.00 million during the quarter, compared to the consensus estimate of $316.81 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was down 24.0% on a year-over-year basis. Equities analysts predict that FS KKR Capital Corp. will post 1.64 EPS for the current fiscal year.

FS KKR Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.68 annualized dividend and a yield of 15.9%. FS KKR Capital’s payout ratio is currently -85.28%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FSK shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Zacks Research cut FS KKR Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wells Fargo & Company cut their target price on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a research report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $10.58.

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.