Investmark Advisory Group LLC Acquires New Shares in FS KKR Capital Corp. $FSK

Key Points

• Investmark Advisory Group acquired 162,873 shares of FS KKR Capital in the second quarter, worth approximately $1.71 million and representing about 0.06% of the company.
• FSK reported quarterly EPS of $0.43, slightly above analyst expectations, on revenue of $290 million. The company also raised its quarterly dividend to $0.44, implying an annualized yield of approximately 14.8%.
• Analyst sentiment remains cautious: most analysts rate the stock Hold, while MarketBeat reports a consensus “Reduce” rating and a $11.21 price target. FSK recently traded at $11.93.

Investmark Advisory Group LLC bought a new stake in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 162,873 shares of the company's stock, valued at approximately $1,710,000. FS KKR Capital comprises 0.6% of Investmark Advisory Group LLC's investment portfolio, making the stock its 28th largest holding. Investmark Advisory Group LLC owned approximately 0.06% of FS KKR Capital at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FSK. Jessup Wealth Management Inc purchased a new position in shares of FS KKR Capital in the fourth quarter worth $26,000. Harborfront Financial Group LLC purchased a new stake in shares of FS KKR Capital during the second quarter valued at $30,000. Basepoint Wealth LLC purchased a new stake in shares of FS KKR Capital during the fourth quarter valued at $31,000. Smartleaf Asset Management LLC increased its holdings in FS KKR Capital by 201.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company's stock worth $40,000 after buying an additional 1,789 shares in the last quarter. Finally, Knott David M Jr bought a new stake in FS KKR Capital in the 4th quarter worth about $43,000. Institutional investors own 36.26% of the company's stock.

FS KKR Capital Stock Down 0.7%

FSK stock opened at $11.93 on Wednesday. The business's 50-day moving average price is $10.94 and its 200-day moving average price is $11.14. The stock has a market cap of $3.30 billion, a P/E ratio of -8.83 and a beta of 0.83. 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 twelve month low of $9.72 and a twelve month high of $18.25.

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

FS KKR Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.8%. This is a boost from FS KKR Capital's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, September 16th. FS KKR Capital's dividend payout ratio is currently -124.44%.

Analyst Upgrades and Downgrades

FSK has been the topic of several research analyst reports. Truist Financial upped their target price on shares of FS KKR Capital from $11.00 to $12.00 and gave the company a "hold" rating in a research note on Friday, August 7th. Wall Street Zen raised shares of FS KKR Capital from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research upgraded shares of FS KKR Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reissued a "sector perform" rating and set a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, FS KKR Capital currently has an average rating of "Reduce" and a consensus target price of $11.21.

FS KKR Capital Company 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.

Want to see what other hedge funds are holding FSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FS KKR Capital Corp. (NYSE:FSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source