Legacy Wealth Managment LLC ID Trims Position in FS KKR Capital Corp. $FSK

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 reduced its holdings in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 15.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 147,695 shares of the company's stock after selling 26,061 shares during the quarter. FS KKR Capital comprises 2.2% of Legacy Wealth Managment LLC ID's investment portfolio, making the stock its 13th largest position. Legacy Wealth Managment LLC ID owned approximately 0.05% of FS KKR Capital worth $3,094,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Sunbelt Securities Inc. grew its position in shares of FS KKR Capital by 1.3% in 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 during the last quarter. Kathmere Capital Management LLC boosted its position in shares of 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 purchasing an additional 562 shares in the last quarter. Liberty Square Wealth Partners LLC boosted its position in shares of 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 purchasing an additional 602 shares in the last quarter. Independent Wealth Network Inc. boosted its position in shares of 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 purchasing an additional 672 shares in the last quarter. Finally, Bison Wealth LLC boosted its position in shares of 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 purchasing an additional 720 shares in the last quarter. 36.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on FS KKR Capital from $21.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 26th. B. Riley assumed coverage on FS KKR Capital in a research report on Tuesday, May 13th. They set a "neutral" rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on FS KKR Capital from $19.00 to $18.50 and set a "market perform" rating on the stock in a research report on Tuesday, August 12th. Wells Fargo & Company dropped their price target on FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded FS KKR Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $18.42.

FS KKR Capital Stock Down 0.5%

FS KKR Capital stock traded down $0.08 during mid-day trading on Wednesday, hitting $17.77. The company had a trading volume of 1,294,930 shares, compared to its average volume of 1,697,151. The company has a market capitalization of $4.98 billion, a PE ratio of 22.78 and a beta of 0.95. 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 12 month low of $17.35 and a 12 month high of $24.10. The stock's 50 day moving average price is $19.72 and its two-hundred day moving average price is $20.41.

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

FS KKR Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This is an increase from FS KKR Capital's previous quarterly dividend of $0.64. This represents a $2.80 dividend on an annualized basis and a dividend yield of 15.8%. FS KKR Capital's dividend payout ratio is currently 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.