Sanctuary Advisors LLC Takes $7.04 Million Position in FS KKR Capital Corp. $FSK

Key Points

• Sanctuary Advisors LLC acquired 670,765 shares of FS KKR Capital in the second quarter, worth approximately $7.04 million and representing 0.24% of the company. Institutional investors collectively own 36.26% of FSK.
• Analyst sentiment remains cautious, with seven “Hold” ratings and one “Sell” rating producing a consensus rating of “Reduce” and an average price target of $11.43, below the stock’s reported $12.06 price.
• FS KKR Capital increased its quarterly dividend to $0.44 per share, or $1.76 annualized, implying a 14.6% yield. The company also exceeded quarterly earnings and revenue estimates, reporting $0.43 EPS and $290 million in revenue.

Sanctuary Advisors LLC bought a new position in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 670,765 shares of the company's stock, valued at approximately $7,043,000. Sanctuary Advisors LLC owned 0.24% of FS KKR Capital at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bison Wealth LLC raised 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 worth $476,000 after acquiring an additional 720 shares during the period. Goldman Sachs Group Inc. grew its position in shares of FS KKR Capital by 13.7% in the first quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company's stock valued at $5,612,000 after purchasing an additional 32,258 shares during the period. Empowered Funds LLC increased its stake in shares of FS KKR Capital by 139.9% during the first quarter. Empowered Funds LLC now owns 26,744 shares of the company's stock worth $560,000 after purchasing an additional 15,596 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of FS KKR Capital during the second quarter worth about $1,806,000. Finally, Nebula Research & Development LLC increased its stake in shares of FS KKR Capital by 83.1% during the second quarter. Nebula Research & Development LLC now owns 20,236 shares of the company's stock worth $420,000 after purchasing an additional 9,183 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company's stock.

Wall Street Analysts Forecast Growth

FSK has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $13.00 price target (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d+)" rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Wells Fargo & Company reduced their target price on FS KKR Capital from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 12th. Truist Financial raised their target price on FS KKR Capital from $11.00 to $12.00 and gave the company a "hold" rating in a research report on Friday, August 7th. Finally, Capital One Financial set a $12.00 target price on FS KKR Capital in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $11.43.

FS KKR Capital Stock Up 1.3%

Shares of NYSE FSK opened at $12.06 on Tuesday. FS KKR Capital Corp. has a 12-month low of $9.72 and a 12-month high of $18.25. The stock has a market cap of $3.33 billion, a PE ratio of -8.94 and a beta of 0.83. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $11.03 and a 200 day moving average of $11.09.

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 for the quarter, topping analysts' consensus estimates of $0.42 by $0.01. The business had revenue of $290.00 million for the quarter, compared to analyst estimates of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same period last year, the company posted ($0.75) EPS. As a group, sell-side analysts predict that FS KKR Capital Corp. will post 1.64 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 16th. This is a positive change from FS KKR Capital's previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 14.6%. FS KKR Capital's dividend payout ratio (DPR) is -124.44%.

About FS KKR Capital

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.

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