Bank of New York Mellon Corp Purchases Shares of 168,363 FS KKR Capital Corp. $FSK

Key Points

• Bank of New York Mellon acquired 168,363 shares of FS KKR Capital in the second quarter, valued at approximately $1.77 million. Hedge funds and other institutional investors collectively own 36.26% of the company.
• FS KKR Capital reported quarterly EPS of $0.43, slightly exceeding estimates, while revenue reached $290 million. The company raised its quarterly dividend to $0.44 per share, implying an annualized yield of about 14.4%.
• FSK shares opened at $12.21, above their 50-day and 200-day moving averages. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $11.43.

Bank of New York Mellon Corp acquired a new position in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 168,363 shares of the company's stock, valued at approximately $1,768,000. Bank of New York Mellon Corp owned approximately 0.06% of FS KKR Capital as of its most recent SEC filing.

Several other 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 approximately $26,000. Basepoint Wealth LLC acquired a new position in FS KKR Capital during the fourth quarter valued at $31,000. Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 1,789 shares in the last quarter. Knott David M Jr purchased a new stake in FS KKR Capital in the 4th quarter worth about $43,000. Finally, Kingdom Financial Group LLC. acquired a new stake in FS KKR Capital during the 4th quarter worth about $50,000. 36.26% of the stock is owned by hedge funds and other institutional investors.

FS KKR Capital Stock Performance

Shares of NYSE FSK opened at $12.21 on Wednesday. The business's 50-day simple moving average is $11.46 and its 200-day simple moving average is $11.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.28 and a current ratio of 2.28. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $18.09. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -9.04 and a beta of 0.83.

FS KKR Capital (NYSE:FSK - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.01. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.The firm had revenue of $290.00 million during the quarter, compared to analysts' expectations of $286.75 million. During the same quarter in the prior year, the business earned ($0.75) earnings per share. As a group, equities research analysts expect that FS KKR Capital Corp. will post 1.64 earnings per share 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. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 14.4%. This is a positive change from FS KKR Capital's previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 16th. FS KKR Capital's dividend payout ratio is currently -130.37%.

Wall Street Analysts Forecast Growth

FSK has been the subject of a number of research analyst reports. Capital One Financial set a $12.00 price target on shares of FS KKR Capital in a research report on Friday, August 7th. Wells Fargo & Company cut their target price on shares of FS KKR Capital from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Truist Financial lifted 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. JPMorgan Chase & Co. upped their price target on shares of FS KKR Capital from $9.50 to $11.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of FS KKR Capital in a report on Friday, August 28th. 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.com, the stock currently has a consensus rating of "Reduce" and an average price target of $11.43.

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.

Want to see what other hedge funds are holding FSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FS KKR Capital Corp. (NYSE:FSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.