Wealthcare Advisory Partners LLC Sells 180,168 Shares of FS KKR Capital Corp. $FSK

Key Points

• Wealthcare Advisory Partners LLC cut its position in FS KKR Capital by 67.5%, selling 180,168 shares and retaining 86,831 shares valued at $1.286 million at quarter-end.
• Several firms downgraded FSK and lowered targets, leaving a MarketBeat consensus rating of "Reduce" with an average price target of $13.36.
• FSK declared a special $0.03 dividend (ex-dividend March 18) and recently missed quarterly EPS estimates, while the stock trades near $9.95 with a 52-week low of $9.72.

Wealthcare Advisory Partners LLC cut its position in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) by 67.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,831 shares of the company's stock after selling 180,168 shares during the period. Wealthcare Advisory Partners LLC's holdings in FS KKR Capital were worth $1,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of FS KKR Capital by 23.3% in the third quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company's stock valued at $59,566,000 after buying an additional 752,956 shares during the last quarter. UBS Group AG increased its holdings in shares of FS KKR Capital by 12.1% during the 3rd quarter. UBS Group AG now owns 3,300,094 shares of the company's stock worth $49,270,000 after acquiring an additional 355,745 shares during the last quarter. Generali Asset Management SPA SGR raised its stake in FS KKR Capital by 2.5% in the 3rd quarter. Generali Asset Management SPA SGR now owns 2,546,371 shares of the company's stock valued at $38,017,000 after acquiring an additional 61,106 shares during the period. CCLA Investment Management lifted its holdings in FS KKR Capital by 5.6% during the 3rd quarter. CCLA Investment Management now owns 1,703,635 shares of the company's stock valued at $25,435,000 after purchasing an additional 90,167 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in FS KKR Capital during the 3rd quarter valued at $21,917,000. Institutional investors own 36.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on FSK. Weiss Ratings downgraded shares of FS KKR Capital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, March 5th. Wells Fargo & Company reduced their target price on shares of FS KKR Capital from $15.00 to $11.00 and set an "equal weight" rating for the company in a report on Friday, February 27th. Zacks Research downgraded shares of FS KKR Capital from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Royal Bank Of Canada reduced their price objective on FS KKR Capital from $17.00 to $15.00 and set a "sector perform" rating for the company in a report on Friday, February 27th. Finally, Truist Financial decreased their target price on FS KKR Capital from $17.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, March 4th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $13.36.

FS KKR Capital Trading Up 0.4%

FSK stock opened at $9.95 on Tuesday. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $22.68. The company has a market capitalization of $2.79 billion, a PE ratio of 331.50 and a beta of 0.86. The company's 50-day simple moving average is $12.13 and its 200 day simple moving average is $14.10. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.05 and a current ratio of 3.05.

FS KKR Capital (NYSE:FSK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $348.00 million during the quarter, compared to analyst estimates of $361.59 million. FS KKR Capital had a return on equity of 5.21% and a net margin of 0.72%.During the same quarter last year, the firm earned $0.66 EPS. As a group, sell-side analysts anticipate that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th will be given a $0.03 dividend. This represents a dividend yield of 118.0%. The ex-dividend date is Wednesday, March 18th. FS KKR Capital's payout ratio is presently 6,000.00%.

Insider Buying and Selling at FS KKR Capital

In related news, insider Daniel Pietrzak purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $56,250.00. Following the completion of the purchase, the insider owned 64,800 shares in the company, valued at approximately $729,000. This represents a 8.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company's stock.

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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