Alpha Wealth Funds LLC Sells 90,192 Shares of FS KKR Capital Corp. $FSK

Key Points

• Alpha Wealth Funds cut its FS KKR Capital stake by 50.1%, selling 90,192 shares in the third quarter and retaining 90,000 shares valued at about $989,000.
• Analysts have a consensus “Reduce” rating on the stock, with an average price target of $11.50; six rate it Hold and two rate it Sell.
• FS KKR Capital reported quarterly EPS of $0.46, topping the $0.40 consensus, and declared a special $0.20-per-share dividend payable December 15.

Alpha Wealth Funds LLC lessened its holdings in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) by 50.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the company's stock after selling 90,192 shares during the quarter. FS KKR Capital accounts for 3.2% of Alpha Wealth Funds LLC's portfolio, making the stock its 8th largest position. Alpha Wealth Funds LLC's holdings in FS KKR Capital were worth $989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in FS KKR Capital by 13.4% during the second quarter. Van ECK Associates Corp now owns 5,382,748 shares of the company's stock valued at $56,519,000 after buying an additional 636,889 shares in the last quarter. Saba Capital Management L.P. acquired a new stake in shares of FS KKR Capital during the first quarter worth $35,729,000. Legal & General Group Plc acquired a new stake in shares of FS KKR Capital during the second quarter worth $28,742,000. Silver Point Capital L.P. bought a new position in shares of FS KKR Capital in the 2nd quarter worth about $28,602,000. Finally, Generali Asset Management SPA SGR boosted its holdings in shares of FS KKR Capital by 0.7% in the 3rd quarter. Generali Asset Management SPA SGR now owns 2,546,341 shares of the company's stock valued at $27,984,000 after buying an additional 17,116 shares during the period. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FSK shares. JPMorgan Chase & Co. increased their price target on FS KKR Capital from $11.00 to $11.50 and gave the stock a "neutral" rating in a research report on Friday. Wells Fargo & Company lowered FS KKR Capital from a "sector perform" rating to an "underweight" rating and set a $10.00 target price on the stock. in a research report on Tuesday, September 29th. Zacks Research upgraded FS KKR Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Truist Financial upped their price target on shares of FS KKR Capital from $11.00 to $12.00 and gave the stock a "hold" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of FS KKR Capital in a research report on Friday, August 28th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $11.50.

FS KKR Capital Price Performance

NYSE FSK opened at $11.82 on Tuesday. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $16.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $3.27 billion, a PE ratio of -6.39 and a beta of 0.88. The company's 50 day simple moving average is $11.24 and its 200 day simple moving average is $11.28.

FS KKR Capital (NYSE:FSK - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.06. The firm had revenue of $294.00 million during the quarter, compared to analyst estimates of $274.61 million. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%. During the same period last year, the company posted $0.57 EPS. As a group, equities research analysts forecast that FS KKR Capital Corp. will post 1.69 EPS for the current fiscal year.

FS KKR Capital Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.20 dividend. The ex-dividend date is Tuesday, December 1st. FS KKR Capital's payout ratio is -95.14%.

About FS KKR Capital

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