Summit Global Investments Invests $394,000 in FS KKR Capital Corp. (NYSE:FSK)

Summit Global Investments acquired a new position in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,803 shares of the company's stock, valued at approximately $394,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Inspire Advisors LLC increased its position in shares of FS KKR Capital by 28.6% during the 4th quarter. Inspire Advisors LLC now owns 109,919 shares of the company's stock worth $2,387,000 after purchasing an additional 24,443 shares in the last quarter. Proactive Wealth Strategies LLC grew its stake in FS KKR Capital by 24.8% during the fourth quarter. Proactive Wealth Strategies LLC now owns 64,966 shares of the company's stock worth $1,411,000 after buying an additional 12,926 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of FS KKR Capital by 15.2% during the fourth quarter. J.W. Cole Advisors Inc. now owns 205,935 shares of the company's stock worth $4,473,000 after buying an additional 27,110 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of FS KKR Capital in the 4th quarter worth approximately $348,000. Finally, Ascent Capital Management LLC bought a new stake in FS KKR Capital during the 4th quarter worth approximately $470,000. 36.26% of the stock is owned by institutional investors.

FS KKR Capital Trading Up 0.6%

NYSE:FSK traded up $0.13 during trading hours on Tuesday, hitting $21.22. The stock had a trading volume of 825,630 shares, compared to its average volume of 1,468,871. The business's 50 day moving average is $20.14 and its 200-day moving average is $21.44. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 11.28 and a beta of 0.98. FS KKR Capital Corp. has a one year low of $17.42 and a one year high of $24.10. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.96 and a current ratio of 2.96.

FS KKR Capital (NYSE:FSK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $400.00 million for the quarter, compared to the consensus estimate of $395.22 million. FS KKR Capital had a return on equity of 12.31% and a net margin of 29.98%. The firm's revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Sell-side analysts anticipate that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 12.07%. The ex-dividend date is Wednesday, June 18th. FS KKR Capital's dividend payout ratio is currently 134.74%.

Analyst Ratings Changes

Several analysts have recently commented on FSK shares. Wells Fargo & Company decreased their target price on FS KKR Capital from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on shares of FS KKR Capital from $22.00 to $19.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer dropped 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 research report on Friday, May 9th. B. Riley began coverage on shares of FS KKR Capital in a research note on Tuesday, May 13th. They set a "neutral" rating and a $19.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of FS KKR Capital from $22.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $19.50.

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.