Truist Financial Cuts FS KKR Capital (NYSE:FSK) Price Target to $11.00

FS KKR Capital (NYSE:FSK) had its price objective lowered by Truist Financial from $17.00 to $11.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. B. Riley Financial dropped their price objective on shares of FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a report on Tuesday. Wall Street Zen cut FS KKR Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of FS KKR Capital in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods cut their price target on FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Monday, March 2nd. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, FS KKR Capital presently has an average rating of “Reduce” and an average price target of $14.14.

FS KKR Capital Trading Down 2.0%

FSK stock opened at $10.70 on Wednesday. FS KKR Capital has a one year low of $10.28 and a one year high of $22.95. The company’s fifty day moving average price is $13.54 and its 200-day moving average price is $15.01. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.05 and a quick ratio of 3.05.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $348.00 million for the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.66 EPS. Research analysts forecast that FS KKR Capital will post 2.89 EPS for the current year.

FS KKR Capital Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.03 per share. This represents a dividend yield of 1,595.0%. The ex-dividend date is Wednesday, March 18th. FS KKR Capital’s dividend payout ratio is currently 8,533.33%.

Insider Activity at FS KKR Capital

In related news, insider Daniel Pietrzak purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $11.25 per share, for a total transaction of $56,250.00. Following the completion of the transaction, the insider owned 64,800 shares in the company, valued at approximately $729,000. The trade was a 8.36% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On FS KKR Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp purchased a new position in shares of FS KKR Capital in the 2nd quarter worth approximately $26,000. Beacon Capital Management Inc. purchased a new stake in FS KKR Capital during the 2nd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in FS KKR Capital in the fourth quarter worth $26,000. Jessup Wealth Management Inc purchased a new position in FS KKR Capital during the fourth quarter worth $26,000. Finally, FNY Investment Advisers LLC purchased a new position in FS KKR Capital during the fourth quarter worth $28,000. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

FS KKR Capital Company Profile

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.