Kestra Advisory Services LLC Sells 154,649 Shares of FS KKR Capital Corp. $FSK

Key Points

• Kestra Advisory Services LLC reduced its holdings in FS KKR Capital Corp. by 12.5%, now owning 1,082,683 shares worth approximately $22.68 million.
• Analysts have set a consensus price target of $18.92 for FS KKR Capital, with several lowering their targets and ratings amid recent performance evaluations.
• FS KKR Capital has announced a quarterly dividend of $0.70 per share with an annualized yield of 15.5%, increasing from its previous dividend of $0.64 per share.

Kestra Advisory Services LLC reduced its position in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,082,683 shares of the company's stock after selling 154,649 shares during the quarter. Kestra Advisory Services LLC owned approximately 0.39% of FS KKR Capital worth $22,682,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of FSK. Kingswood Wealth Advisors LLC boosted its stake in FS KKR Capital by 250.9% during the first quarter. Kingswood Wealth Advisors LLC now owns 788,025 shares of the company's stock worth $16,831,000 after acquiring an additional 563,432 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of FS KKR Capital in the first quarter valued at about $9,218,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of FS KKR Capital in the first quarter valued at about $6,383,000. Geneos Wealth Management Inc. raised its holdings in shares of FS KKR Capital by 88.5% in the first quarter. Geneos Wealth Management Inc. now owns 644,908 shares of the company's stock valued at $13,511,000 after purchasing an additional 302,773 shares during the last quarter. Finally, Ethos Financial Group LLC purchased a new stake in shares of FS KKR Capital in the first quarter valued at about $4,888,000. 36.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on FSK. Oppenheimer decreased their price objective on shares of FS KKR Capital from $22.00 to $21.00 and set a "market perform" rating for the company in a report on Friday, May 9th. Zacks Research upgraded shares of FS KKR Capital to a "strong sell" rating in a research note on Friday, August 8th. B. Riley initiated coverage on shares of FS KKR Capital in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $19.00 target price for the company. Wells Fargo & Company reduced their target price on shares of FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating for the company in a research note on Friday, August 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of FS KKR Capital from $19.00 to $18.50 and set a "market perform" rating for the company in a research note on Tuesday, August 12th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $18.42.

FS KKR Capital Price Performance

FS KKR Capital stock traded down $0.10 during mid-day trading on Thursday, hitting $17.93. 455,352 shares of the company traded hands, compared to its average volume of 1,708,533. FS KKR Capital Corp. has a one year low of $17.35 and a one year high of $24.10. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31. The stock has a fifty day moving average price of $20.24 and a 200-day moving average price of $20.79.

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

FS KKR Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 15.6%. The ex-dividend date is Wednesday, September 17th. This is a positive change from FS KKR Capital's previous quarterly dividend of $0.64. FS KKR Capital's dividend payout ratio (DPR) is presently 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.