FS KKR Capital Corp. $FSK Shares Sold by Legacy Wealth Managment LLC ID

Key Points

• Legacy Wealth Management LLC ID decreased its holdings in FS KKR Capital Corp. by 15%, owning 147,695 shares after selling 26,061 shares during the first quarter.
• FS KKR Capital recently increased its quarterly dividend from $0.64 to $0.70, which represents a 15.5% yield based on an annualized payment of $2.80.
• The company's stock has shown mixed performance, with a 52-week low of $17.35 and a high of $24.10, while recent earnings missed estimates significantly.

Legacy Wealth Managment LLC ID trimmed its position in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) by 15.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,695 shares of the company's stock after selling 26,061 shares during the period. FS KKR Capital makes up approximately 2.2% of Legacy Wealth Managment LLC ID's holdings, making the stock its 13th biggest holding. Legacy Wealth Managment LLC ID owned approximately 0.05% of FS KKR Capital worth $3,094,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. grew its position in shares of FS KKR Capital by 1.3% during the 4th quarter. Sunbelt Securities Inc. now owns 33,447 shares of the company's stock worth $726,000 after buying an additional 423 shares in the last quarter. Kathmere Capital Management LLC lifted its position in FS KKR Capital by 1.4% during the first quarter. Kathmere Capital Management LLC now owns 41,258 shares of the company's stock valued at $864,000 after acquiring an additional 562 shares during the last quarter. Liberty Square Wealth Partners LLC lifted its position in FS KKR Capital by 1.2% during the first quarter. Liberty Square Wealth Partners LLC now owns 52,508 shares of the company's stock valued at $1,100,000 after acquiring an additional 602 shares during the last quarter. Independent Wealth Network Inc. lifted its position in FS KKR Capital by 2.7% during the first quarter. Independent Wealth Network Inc. now owns 25,300 shares of the company's stock valued at $530,000 after acquiring an additional 672 shares during the last quarter. Finally, Bison Wealth LLC lifted its position in FS KKR Capital by 3.4% during the fourth quarter. Bison Wealth LLC now owns 21,935 shares of the company's stock valued at $476,000 after acquiring an additional 720 shares during the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

FS KKR Capital Trading Down 1.5%

Shares of FS KKR Capital stock traded down $0.28 during trading hours on Friday, hitting $17.55. The company's stock had a trading volume of 1,051,324 shares, compared to its average volume of 1,691,365. FS KKR Capital Corp. has a twelve month low of $17.35 and a twelve month high of $24.10. The firm has a fifty day moving average of $19.64 and a 200-day moving average of $20.37. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.40 and a current ratio of 2.40.

FS KKR Capital (NYSE:FSK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.60) 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 business had revenue of $398.00 million during the quarter, compared to analyst estimates of $402.00 million. During the same period last year, the company earned $0.75 EPS. On average, equities 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 announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Wednesday, September 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 16.0%. The ex-dividend date of this dividend 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 is currently 328.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Zacks Research upgraded FS KKR Capital to a "strong sell" rating in a research note on Friday, August 8th. Keefe, Bruyette & Woods reduced their price target on FS KKR Capital from $19.00 to $18.50 and set a "market perform" rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada reduced their price target on 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. Wall Street Zen cut FS KKR Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company decreased their price objective on shares of FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating on the stock in a report on Friday, August 8th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $18.42.

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.