Investmark Advisory Group LLC Takes $1.71 Million Position in FS KKR Capital Corp. $FSK

Investmark Advisory Group LLC acquired a new position in FS KKR Capital Corp. (NYSE:FSK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 162,873 shares of the company’s stock, valued at approximately $1,710,000. FS KKR Capital accounts for approximately 0.6% of Investmark Advisory Group LLC’s portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Bison Wealth LLC lifted its holdings in FS KKR Capital by 3.4% in the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock worth $476,000 after purchasing an additional 720 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in FS KKR Capital by 13.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock worth $5,612,000 after purchasing an additional 32,258 shares during the period. Empowered Funds LLC grew its holdings in FS KKR Capital by 139.9% during the 1st quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock valued at $560,000 after buying an additional 15,596 shares in the last quarter. Marshall Wace LLP purchased a new stake in FS KKR Capital during the 2nd quarter valued at approximately $1,806,000. Finally, Nebula Research & Development LLC raised its position 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 valued at $420,000 after buying an additional 9,183 shares during the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Down 0.7%

Shares of FSK opened at $11.93 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -8.83 and a beta of 0.83. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $18.25. The business’s 50 day simple moving average is $10.94 and its 200-day simple moving average is $11.14.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. The firm had revenue of $290.00 million during the quarter, compared to analyst estimates of $286.75 million. During the same period last year, the firm posted ($0.75) earnings per share. As a group, equities analysts expect that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 14.8%. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 16th. FS KKR Capital’s dividend payout ratio (DPR) is -124.44%.

Analyst Ratings Changes

Several research firms have recently commented on FSK. Wells Fargo & Company lowered their target price on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen raised shares of FS KKR Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Truist Financial lifted their price target on shares of FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, August 7th. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Capital One Financial set a $12.00 price target on shares of FS KKR Capital in a research note on Friday, August 7th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $11.21.

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.