Legacy Capital Group California Inc. Raises Stock Holdings in FS KKR Capital Corp. $FSK

Key Points

• Legacy Capital Group California Inc. increased its stake in FS KKR Capital Corp. by 14.2%, acquiring an additional 24,758 shares, bringing its total to 199,187 shares, valued at approximately $4.13 million.
• FS KKR Capital recently declared a quarterly dividend of $0.70 per share, an increase from its previous dividend, yielding 17.7% annualized.
• The stock is currently rated with an average target price of $18.42 and has received various ratings from analysts, including "Reduce" and "Strong Sell."

Legacy Capital Group California Inc. grew its stake in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 14.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,187 shares of the company's stock after purchasing an additional 24,758 shares during the quarter. FS KKR Capital comprises about 1.1% of Legacy Capital Group California Inc.'s holdings, making the stock its 13th biggest holding. Legacy Capital Group California Inc.'s holdings in FS KKR Capital were worth $4,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC increased its position in FS KKR Capital by 2.8% during the 1st quarter. LPL Financial LLC now owns 3,682,289 shares of the company's stock valued at $77,144,000 after buying an additional 98,647 shares in the last quarter. Cura Wealth Advisors LLC raised its holdings in FS KKR Capital by 1.1% in the 1st quarter. Cura Wealth Advisors LLC now owns 1,784,604 shares of the company's stock worth $37,387,000 after acquiring an additional 19,367 shares during the last quarter. Transcend Capital Advisors LLC lifted its position in FS KKR Capital by 2.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 1,405,884 shares of the company's stock valued at $29,453,000 after acquiring an additional 31,039 shares in the last quarter. Strong Tower Advisory Services boosted its stake in FS KKR Capital by 5.1% during the 1st quarter. Strong Tower Advisory Services now owns 1,125,576 shares of the company's stock valued at $23,581,000 after purchasing an additional 55,054 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of FS KKR Capital by 4.8% in the 1st quarter. Cetera Investment Advisers now owns 969,138 shares of the company's stock worth $20,303,000 after purchasing an additional 44,087 shares in the last quarter. 36.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FSK has been the topic of a number of research analyst reports. Zacks Research raised FS KKR Capital to a "strong sell" rating in a report on Friday, August 8th. Wells Fargo & Company decreased their price objective on shares of FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada reduced their price target on shares of FS KKR Capital from $21.00 to $18.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 26th. Keefe, Bruyette & Woods cut their price target on FS KKR Capital from $19.00 to $18.50 and set a "market perform" rating for the company in a report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of FS KKR Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, FS KKR Capital presently has a consensus rating of "Reduce" and a consensus target price of $18.42.

FS KKR Capital Stock Performance

FSK stock traded down $0.46 during mid-day trading on Monday, reaching $15.41. 4,587,748 shares of the stock traded hands, compared to its average volume of 2,283,483. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31. FS KKR Capital Corp. has a one year low of $15.39 and a one year high of $24.10. The business has a 50-day moving average price of $18.93 and a two-hundred day moving average price of $20.01.

FS KKR Capital (NYSE:FSK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $402.00 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, analysts forecast that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 17th will be paid a dividend of $0.70 per share. This is an increase from FS KKR Capital's previous quarterly dividend of $0.64. This represents a $2.80 annualized dividend and a dividend yield of 18.2%. The ex-dividend date is Wednesday, September 17th. FS KKR Capital's payout ratio is 328.21%.

About FS KKR Capital

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.