Pasadena Private Wealth LLC Buys New Shares in FS KKR Capital Corp. $FSK

Pasadena Private Wealth LLC bought a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,145 shares of the company’s stock, valued at approximately $522,000.

A number of other large investors also recently modified their holdings of FSK. SCS Capital Management LLC purchased a new position in shares of FS KKR Capital during the 1st quarter valued at $10,822,000. Generali Asset Management SPA SGR lifted its stake in shares of FS KKR Capital by 21.7% during the 2nd quarter. Generali Asset Management SPA SGR now owns 2,485,265 shares of the company’s stock valued at $51,569,000 after buying an additional 442,374 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of FS KKR Capital during the 1st quarter valued at $9,218,000. Cubist Systematic Strategies LLC purchased a new position in shares of FS KKR Capital during the 1st quarter valued at $8,342,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of FS KKR Capital during the 1st quarter valued at $6,383,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

Shares of FSK stock opened at $15.26 on Monday. FS KKR Capital Corp. has a 52 week low of $14.05 and a 52 week high of $24.10. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $16.26 and its two-hundred day simple moving average is $19.05.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Wednesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($1.23). The business had revenue of $398.00 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.75 earnings per share. As a group, research analysts predict that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 16.8%. The ex-dividend date is Wednesday, December 3rd. FS KKR Capital’s dividend payout ratio is currently 328.21%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FSK. Royal Bank Of Canada lowered their target price on shares of FS KKR Capital from $21.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 26th. JPMorgan Chase & Co. decreased their price target on shares of FS KKR Capital from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 price target on the stock in a research note on Monday, October 6th. Finally, Wall Street Zen cut shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Saturday. Eight investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.75.

FS KKR Capital 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.