FS KKR Capital Corp. $FSK Stock Holdings Reduced by Legacy Wealth Managment LLC ID

Key Points

• Legacy Wealth Management cut its FS KKR Capital position by 92.3% in the second quarter, selling 139,126 shares and retaining 11,651 shares valued at approximately $122,000. Institutional investors and hedge funds collectively own 36.26% of FSK.
• FSK reported quarterly EPS of $0.43, exceeding estimates of $0.42, while revenue reached $290 million versus the $286.75 million consensus forecast.
• The company raised its quarterly dividend to $0.44 per share, implying an annualized dividend of $1.76 and a 14.1% yield. Despite the higher payout, analysts remain cautious, with a consensus “Reduce” rating and an $11.43 target price.

Legacy Wealth Managment LLC ID reduced its position in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 92.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,651 shares of the company's stock after selling 139,126 shares during the period. Legacy Wealth Managment LLC ID's holdings in FS KKR Capital were worth $122,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FSK. Bison Wealth LLC raised its position in FS KKR Capital by 3.4% during the fourth quarter. Bison Wealth LLC now owns 21,935 shares of the company's stock valued at $476,000 after acquiring an additional 720 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of FS KKR Capital by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company's stock valued at $5,612,000 after purchasing an additional 32,258 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of FS KKR Capital by 139.9% in the 1st quarter. Empowered Funds LLC now owns 26,744 shares of the company's stock valued at $560,000 after purchasing an additional 15,596 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of FS KKR Capital in the 2nd quarter valued at $1,806,000. Finally, Nebula Research & Development LLC boosted its holdings in FS KKR Capital by 83.1% in the second quarter. Nebula Research & Development LLC now owns 20,236 shares of the company's stock worth $420,000 after purchasing an additional 9,183 shares in the last quarter. 36.26% of the stock is currently owned by institutional investors and hedge funds.

FS KKR Capital Stock Up 1.1%

Shares of FSK stock opened at $12.46 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $18.21. The stock has a 50 day moving average of $11.39 and a 200-day moving average of $11.05. The firm has a market cap of $3.44 billion, a PE ratio of -9.23 and a beta of 0.83.

FS KKR Capital (NYSE:FSK - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $290.00 million for the quarter, compared to analyst estimates of $286.75 million. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.During the same quarter last year, the firm earned ($0.75) EPS. On average, equities analysts predict that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

The business also recently disclosed 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. 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. This represents a $1.76 dividend on an annualized basis and a yield of 14.1%. FS KKR Capital's dividend payout ratio (DPR) is presently -124.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FSK shares. Weiss Ratings reissued a "sell (d+)" rating on shares of FS KKR Capital in a research report on Friday, August 28th. Wall Street Zen raised FS KKR Capital from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Capital One Financial set a $12.00 price target on FS KKR Capital in a research note on Friday, August 7th. Wells Fargo & Company lowered their price objective on FS KKR Capital from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. raised their price objective on FS KKR Capital from $9.50 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price 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.

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