60,338 Shares in FS KKR Capital Corp. $FSK Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC purchased a new position in shares of FS KKR Capital Corp. (NYSE:FSK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 60,338 shares of the company’s stock, valued at approximately $901,000.

Several other large investors have also made changes to their positions in the business. Van ECK Associates Corp raised its holdings in shares of FS KKR Capital by 23.3% during the third quarter. Van ECK Associates Corp now owns 3,989,678 shares of the company’s stock worth $59,566,000 after purchasing an additional 752,956 shares during the last quarter. UBS Group AG boosted its holdings in FS KKR Capital by 12.1% in the third quarter. UBS Group AG now owns 3,300,094 shares of the company’s stock valued at $49,270,000 after purchasing an additional 355,745 shares during the last quarter. Generali Asset Management SPA SGR boosted its holdings in FS KKR Capital by 2.5% in the third quarter. Generali Asset Management SPA SGR now owns 2,546,371 shares of the company’s stock valued at $38,017,000 after purchasing an additional 61,106 shares during the last quarter. Legal & General Group Plc grew its position in FS KKR Capital by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,147,309 shares of the company’s stock worth $44,546,000 after purchasing an additional 66,943 shares during the period. Finally, CCLA Investment Management raised its stake in shares of 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 buying an additional 90,167 shares during the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FS KKR Capital

In other 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 purchased at an average cost 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 of the company’s stock, valued at $729,000. This trade represents a 8.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FSK. Royal Bank Of Canada decreased 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. JPMorgan Chase & Co. dropped their target price on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating on the stock in a report on Friday. Weiss Ratings cut FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of FS KKR Capital from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Monday, March 2nd. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, FS KKR Capital presently has a consensus rating of “Reduce” and an average target price of $13.36.

FS KKR Capital Stock Performance

Shares of NYSE FSK opened at $10.16 on Tuesday. The company’s 50-day simple moving average is $13.00 and its 200-day simple moving average is $14.66. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.31. FS KKR Capital Corp. has a 52-week low of $10.04 and a 52-week high of $22.68.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results 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). FS KKR Capital had a return on equity of 5.21% and a net margin of 0.72%.The company had revenue of $348.00 million for the quarter, compared to analyst estimates of $361.59 million. During the same quarter last year, the company earned $0.66 EPS. Sell-side analysts predict that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Announces Dividend

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

FS KKR Capital 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.