MAI Capital Management Sells 53,283 Shares of FS KKR Capital Corp. $FSK

Key Points

• MAI Capital Management significantly reduced its holdings in FS KKR Capital Corp. by 94.3%, selling over 53,000 shares and leaving it with only 3,237 shares valued at approximately $68,000.
• Analysts have lowered their price targets for FS KKR Capital, with Royal Bank of Canada and Wells Fargo reducing theirs to $18.00 and $15.00 respectively, while the average rating for the stock is currently "Reduce" with a target of $18.42.
• The company announced a quarterly dividend increase to $0.70 per share, reflecting an annualized yield of 15.5%, despite having a high dividend payout ratio of 328.21%.

MAI Capital Management decreased its position in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 94.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,237 shares of the company's stock after selling 53,283 shares during the period. MAI Capital Management's holdings in FS KKR Capital were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in FS KKR Capital by 2.8% in the 1st quarter. LPL Financial LLC now owns 3,682,289 shares of the company's stock worth $77,144,000 after purchasing an additional 98,647 shares during the period. Cura Wealth Advisors LLC boosted its stake in shares of FS KKR Capital by 1.1% during the 1st quarter. Cura Wealth Advisors LLC now owns 1,784,604 shares of the company's stock worth $37,387,000 after buying an additional 19,367 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of FS KKR Capital by 8.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,418,903 shares of the company's stock worth $30,827,000 after buying an additional 106,641 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of FS KKR Capital by 2.3% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,405,884 shares of the company's stock worth $29,453,000 after buying an additional 31,039 shares during the last quarter. Finally, Strong Tower Advisory Services boosted its stake in shares of FS KKR Capital by 5.1% during the 1st quarter. Strong Tower Advisory Services now owns 1,125,576 shares of the company's stock worth $23,581,000 after buying an additional 55,054 shares during the last quarter. 36.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSK has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their price objective on shares of FS KKR Capital from $21.00 to $18.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 26th. Zacks Research raised shares of FS KKR Capital to a "strong sell" rating in a report on Friday, August 8th. Wall Street Zen cut shares of FS KKR Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wells Fargo & Company dropped their target price on shares of FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating on the stock in a report on Friday, August 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of FS KKR Capital from $19.00 to $18.50 and set a "market perform" rating on the stock in a report on Tuesday, August 12th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FS KKR Capital presently has an average rating of "Reduce" and an average price target of $18.42.

FS KKR Capital Stock Performance

FS KKR Capital stock traded down $0.29 during trading hours on Friday, hitting $17.53. The company had a trading volume of 2,063,875 shares, compared to its average volume of 1,487,353. 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 one year low of $17.35 and a one year high of $24.10. The firm has a 50-day moving average of $19.57 and a 200 day moving average of $20.33.

FS KKR Capital (NYSE:FSK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of $0.63 by ($1.23). The company had revenue of $398.00 million during the quarter, compared to the consensus estimate of $402.00 million. FS KKR Capital had a net margin of 13.24% and a return on equity of 6.24%. During the same period in the prior year, the company earned $0.75 earnings per share. As a group, equities research analysts anticipate that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Wednesday, September 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $2.80 annualized dividend and a yield of 16.0%. This is an increase from FS KKR Capital's previous quarterly dividend of $0.64. FS KKR Capital's payout ratio is currently 328.21%.

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.