FS KKR Capital Corp. $FSK Position Cut by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC sold 20,480 shares of FS KKR Capital Corp., reducing its stake by 19.6% and now holds 84,267 shares valued at approximately $1.77 million.
• FS KKR Capital's quarterly dividend was increased to $0.70 per share from the previous $0.64, representing a substantial annual yield of 15.7%.
• Several brokers have downgraded FS KKR Capital's stock ratings, with Wells Fargo lowering its price target from $18.00 to $15.00 and Zacks Research issuing a "strong sell" rating.

Integrated Wealth Concepts LLC lessened its stake in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) by 19.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,267 shares of the company's stock after selling 20,480 shares during the quarter. Integrated Wealth Concepts LLC's holdings in FS KKR Capital were worth $1,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new position in shares of FS KKR Capital in the fourth quarter worth about $33,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of FS KKR Capital in the first quarter worth about $34,000. Wealth Preservation Advisors LLC acquired a new position in shares of FS KKR Capital in the first quarter worth about $42,000. von Borstel & Associates Inc. acquired a new position in shares of FS KKR Capital in the first quarter worth about $60,000. Finally, Creekmur Asset Management LLC lifted its stake in shares of FS KKR Capital by 76.9% in the first 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 in the last quarter. Institutional investors and hedge funds own 36.26% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on FSK shares. Wells Fargo & Company cut their price target on FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating on the stock in a research note on Friday, August 8th. Zacks Research upgraded FS KKR Capital to a "strong sell" rating in a research note on Friday, August 8th. Keefe, Bruyette & Woods cut 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. Royal Bank Of Canada cut their price objective on FS KKR Capital from $21.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 26th. Finally, Wall Street Zen cut FS KKR Capital from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $18.42.

FS KKR Capital Stock Performance

Shares of NYSE:FSK traded down $0.29 during trading on Friday, hitting $17.53. 2,063,875 shares of the company traded hands, compared to its average volume of 1,487,353. The business's fifty day moving average is $19.57 and its 200-day moving average is $20.33. FS KKR Capital Corp. has a one year low of $17.35 and a one year high of $24.10. 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 (NYSE:FSK - Get Free Report) last issued its quarterly earnings data 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). FS KKR Capital had a return on equity of 6.24% and a net margin of 13.24%.The business had revenue of $398.00 million during the quarter, compared to the consensus estimate of $402.00 million. During the same period last year, the company earned $0.75 earnings per share. As a group, sell-side analysts predict that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

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