Cura Wealth Advisors LLC Invests $22.39 Million in FS KKR Capital Corp. $FSK

Key Points

• Cura Wealth Advisors acquired 2.13 million shares of FS KKR Capital in the second quarter, valued at approximately $22.39 million. The position represents 9.6% of the firm’s portfolio and 0.76% of FSK’s outstanding shares.
• FS KKR Capital reported quarterly EPS of $0.43, exceeding analyst estimates of $0.42, while revenue reached $290 million versus the $286.75 million consensus.
• The company raised its quarterly dividend to $0.44 per share, or $1.76 annualized, implying a 14.2% yield. Analysts remain cautious, with an average “Reduce” rating and an $11.21 price target.

Cura Wealth Advisors LLC acquired a new stake in FS KKR Capital Corp. (NYSE:FSK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,132,461 shares of the company's stock, valued at approximately $22,391,000. FS KKR Capital accounts for 9.6% of Cura Wealth Advisors LLC's investment portfolio, making the stock its 2nd largest position. Cura Wealth Advisors LLC owned 0.76% of FS KKR Capital as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FSK. Northwestern Mutual Wealth Management Co. grew its holdings in FS KKR Capital by 55,074.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company's stock valued at $114,644,000 after buying an additional 7,726,974 shares during the period. Van ECK Associates Corp lifted its holdings in shares of FS KKR Capital by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 4,083,940 shares of the company's stock worth $60,484,000 after acquiring an additional 94,262 shares during the period. UBS Group AG lifted its holdings in shares of FS KKR Capital by 15.3% during the 4th quarter. UBS Group AG now owns 3,806,076 shares of the company's stock worth $56,368,000 after acquiring an additional 505,982 shares during the period. Saba Capital Management L.P. acquired a new stake in shares of FS KKR Capital in the first quarter worth approximately $35,729,000. Finally, Oak Hill Advisors LP acquired a new stake in shares of FS KKR Capital in the fourth quarter worth approximately $38,659,000. 36.26% of the stock is currently owned by institutional investors and hedge funds.

FS KKR Capital Stock Up 0.0%

Shares of NYSE FSK opened at $12.37 on Monday. 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 1 year low of $9.72 and a 1 year high of $18.25. The stock's 50-day simple moving average is $10.90 and its 200-day simple moving average is $11.17. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of -9.16 and a beta of 0.83.

FS KKR Capital (NYSE:FSK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating 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 the consensus estimate of $286.75 million. During the same quarter in the prior year, the business posted ($0.75) earnings per share. As a group, equities analysts anticipate that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Wednesday, September 16th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date of this dividend is Wednesday, September 16th. This is a positive change from FS KKR Capital's previous quarterly dividend of $0.42. FS KKR Capital's dividend payout ratio is currently -124.44%.

Analyst Ratings Changes

FSK has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of FS KKR Capital from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Truist Financial boosted their price objective 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. Wells Fargo & Company dropped their price objective on FS KKR Capital from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $11.21.

About FS KKR Capital

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source