FS KKR Capital Corp. $FSK Holdings Lifted by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in FS KKR Capital Corp. by 6.0%, owning 332,536 shares valued at approximately $6.97 million as of the latest quarter.
• FS KKR Capital reported a loss of $0.60 per share for the latest quarter, falling short of analysts' estimates, alongside revenues of $398 million against an expectation of $402 million.
• The company recently announced a dividend increase to $0.70 per share, reflecting a yield of 15.5%, with a payout ratio of 328.21%.

Advisors Asset Management Inc. increased its stake in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 332,536 shares of the company's stock after purchasing an additional 18,957 shares during the period. Advisors Asset Management Inc. owned 0.12% of FS KKR Capital worth $6,967,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new position in FS KKR Capital during the 4th quarter worth $33,000. Caitong International Asset Management Co. Ltd acquired a new position in FS KKR Capital during the 1st quarter worth $34,000. Wealth Preservation Advisors LLC acquired a new position in FS KKR Capital during the 1st quarter worth $42,000. von Borstel & Associates Inc. acquired a new position in FS KKR Capital during the 1st quarter worth $60,000. Finally, Creekmur Asset Management LLC boosted its position in FS KKR Capital by 76.9% during the 1st quarter. Creekmur Asset Management LLC now owns 3,106 shares of the company's stock worth $65,000 after acquiring an additional 1,350 shares during the period. Institutional investors own 36.26% of the company's stock.

Wall Street Analyst Weigh In

FSK has been the subject of a number of analyst reports. Oppenheimer reduced their price target on FS KKR Capital from $22.00 to $21.00 and set a "market perform" rating for the company in a research report on Friday, May 9th. Wells Fargo & Company reduced their price target on FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating for the company in a research report on Friday, August 8th. B. Riley began coverage on FS KKR Capital in a research report on Tuesday, May 13th. They set a "neutral" rating and a $19.00 price target for the company. Wall Street Zen downgraded FS KKR Capital from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on FS KKR Capital from $19.00 to $18.50 and set a "market perform" rating on the stock in a research note on Tuesday, August 12th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, FS KKR Capital currently has an average rating of "Reduce" and an average price target of $18.42.

FS KKR Capital Price Performance

Shares of FS KKR Capital stock traded up $0.09 on Friday, reaching $18.12. 1,301,694 shares of the company were exchanged, compared to its average volume of 2,152,013. The stock has a fifty day moving average price of $19.90 and a 200-day moving average price of $20.51. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 1.31. FS KKR Capital Corp. has a fifty-two week low of $17.35 and a fifty-two week high of $24.10.

FS KKR Capital (NYSE:FSK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($1.23). The company had revenue of $398.00 million for the quarter, compared to analyst estimates of $402.00 million. FS KKR Capital had a return on equity of 6.24% and a net margin of 13.24%.During the same period last year, the firm earned $0.75 earnings per share. Sell-side analysts expect that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 15.5%. This is a boost from FS KKR Capital's previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, September 17th. FS KKR Capital's payout ratio is presently 328.21%.

FS KKR Capital Company Profile

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.