International Assets Investment Management LLC Sells 123,642 Shares of FS KKR Capital Corp. $FSK

Key Points

• International Assets Investment Management cut its FS KKR Capital stake by 80.5%, selling 123,642 shares in the third quarter and retaining 30,005 shares valued at about $330,000.
• FSK beat quarterly estimates with earnings of $0.46 per share and revenue of $294 million, but earnings were down from $0.57 a year earlier and net asset value edged lower to $18.28 per share.
• The company declared a special dividend of $0.20 per share, payable December 15. Analysts’ consensus rating is “Reduce,” with a consensus price target of $11.43.

International Assets Investment Management LLC reduced its position in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) by 80.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,005 shares of the company's stock after selling 123,642 shares during the quarter. International Assets Investment Management LLC's holdings in FS KKR Capital were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FSK. Soltis Investment Advisors LLC grew its position in shares of FS KKR Capital by 5.5% during the 3rd quarter. Soltis Investment Advisors LLC now owns 41,186 shares of the company's stock worth $453,000 after buying an additional 2,154 shares during the period. Pinnacle Wealth Planning Services Inc. raised its stake in shares of FS KKR Capital by 8.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 255,705 shares of the company's stock worth $2,810,000 after buying an additional 20,781 shares during the last quarter. Generali Asset Management SPA SGR raised its stake in shares of FS KKR Capital by 0.7% during the third quarter. Generali Asset Management SPA SGR now owns 2,546,341 shares of the company's stock worth $27,984,000 after buying an additional 17,116 shares during the last quarter. Roman Butler Fullerton & Co. bought a new stake in shares of FS KKR Capital during the third quarter worth approximately $204,000. Finally, Park Avenue Securities LLC lifted its holdings in FS KKR Capital by 40.5% in the third quarter. Park Avenue Securities LLC now owns 44,352 shares of the company's stock valued at $487,000 after buying an additional 12,784 shares during the period. 36.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FSK has been the topic of several analyst reports. Wells Fargo & Company lowered shares of FS KKR Capital from a "sector perform" rating to an "underweight" rating and set a $10.00 price objective on the stock. in a report on Tuesday, September 29th. Wall Street Zen raised shares of FS KKR Capital from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Capital One Financial set a $12.00 target price on shares of FS KKR Capital in a research report on Friday, August 7th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded FS KKR Capital from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, FS KKR Capital has a consensus rating of "Reduce" and a consensus target price of $11.43.

Trending Headlines about FS KKR Capital

Here are the key news stories impacting FS KKR Capital this week:

• Positive Sentiment: Net investment income was $0.46 per share, above the $0.40 consensus estimate and up from $0.44 in the second quarter. Revenue of $294 million also topped the $274.6 million estimate. Zacks earnings report
• Positive Sentiment: FS KKR had declared a fourth-quarter distribution of $0.44 per share plus a special distribution of $0.20 per share, which may support investor interest in the income-focused business development company. Third-quarter results announcement
• Negative Sentiment: Net investment income was lower year over year, and the per-share result compared with $0.57 in the year-ago quarter. This could weigh on sentiment despite the consensus beat. Net investment income report
• Negative Sentiment: Net asset value slipped to $18.28 per share from $18.30 in the prior quarter. FSK also recorded a $0.19-per-share net realized and unrealized loss; portfolio purchases of $335 million were below $442 million of sales and repayments. Net debt-to-equity rose from 122% to 125%. Third-quarter results announcement

FS KKR Capital Price Performance

Shares of FSK opened at $11.69 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $16.31. The stock has a market cap of $3.23 billion, a P/E ratio of 5.94 and a beta of 0.88. The stock's 50-day moving average price is $11.26 and its two-hundred day moving average price is $11.31.

FS KKR Capital (NYSE:FSK - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.06. The company had revenue of $294.00 million during the quarter, compared to analysts' expectations of $274.61 million. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%. During the same period in the prior year, the business posted $0.57 EPS. On average, equities analysts predict that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.

FS KKR Capital Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 1st. FS KKR Capital's dividend payout ratio (DPR) is presently -130.37%.

About FS KKR Capital

FS KKR Capital Corp. NYSE: FSK is a business development company (BDC) that provides financing to private middle-market companies. The company primarily invests in senior secured loans and other debt instruments, while also making select equity investments. Its portfolio companies generally operate across a range of industries and are typically based in the United States.

FSK is externally managed by FS/KKR Advisor, LLC, a joint venture between FS Investments and KKR. The adviser combines FS Investments' experience in serving individual and institutional investors with KKR's global investment platform and private credit capabilities.

The company traces its history to FS Investment Corporation and Corporate Capital Trust, which combined in 2018 to create FS KKR Capital Corp.

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