Confluence Investment Management LLC Increases Stock Position in FS KKR Capital Corp. (NYSE:FSK)

Confluence Investment Management LLC raised its position in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 250.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 185,799 shares of the company's stock after buying an additional 132,744 shares during the period. Confluence Investment Management LLC owned 0.07% of FS KKR Capital worth $3,892,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR purchased a new stake in FS KKR Capital during the fourth quarter worth about $17,608,000. Van ECK Associates Corp increased its position in FS KKR Capital by 11.7% in the fourth quarter. Van ECK Associates Corp now owns 6,421,190 shares of the company's stock worth $139,469,000 after buying an additional 673,420 shares during the last quarter. Transce3nd LLC purchased a new stake in FS KKR Capital in the 4th quarter worth about $11,173,000. Raymond James Financial Inc. purchased a new stake in FS KKR Capital in the 4th quarter worth about $6,499,000. Finally, Strategic Financial Concepts LLC increased its holdings in FS KKR Capital by 2,029.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 303,529 shares of the company's stock worth $6,593,000 after acquiring an additional 289,278 shares during the last quarter. Hedge funds and other institutional investors own 36.26% of the company's stock.

FS KKR Capital Price Performance

Shares of FSK traded down $0.12 during mid-day trading on Friday, reaching $21.20. 1,148,235 shares of the stock traded hands, compared to its average volume of 1,474,386. The firm has a fifty day moving average price of $20.14 and a 200 day moving average price of $21.43. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 11.28 and a beta of 0.98. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.21. FS KKR Capital Corp. has a 1 year low of $17.42 and a 1 year high of $24.10.

FS KKR Capital (NYSE:FSK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. FS KKR Capital had a return on equity of 12.31% and a net margin of 29.98%. The business had revenue of $400.00 million during the quarter, compared to analysts' expectations of $395.22 million. During the same period in the previous year, the business earned $0.62 earnings per share. The firm's revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts predict that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $2.56 dividend on an annualized basis and a yield of 12.08%. FS KKR Capital's dividend payout ratio is presently 134.74%.

Analyst Upgrades and Downgrades

FSK has been the subject of several recent research reports. Oppenheimer reduced their target price on shares of FS KKR Capital from $22.00 to $21.00 and set a "market perform" rating for the company in a research note on Friday, May 9th. Wells Fargo & Company reduced their price objective on shares of FS KKR Capital from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, April 28th. Royal Bank of Canada reduced their price objective on shares of FS KKR Capital from $22.00 to $21.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. B. Riley assumed coverage on FS KKR Capital in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $19.00 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price target on FS KKR Capital from $22.00 to $19.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $19.50.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.