Legacy Wealth Managment LLC ID Sells 56,170 Shares of FS KKR Capital Corp. $FSK

Legacy Wealth Managment LLC ID reduced its stake in shares of FS KKR Capital Corp. (NYSE:FSK) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,777 shares of the company’s stock after selling 56,170 shares during the quarter. Legacy Wealth Managment LLC ID owned about 0.05% of FS KKR Capital worth $1,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Independent Financial Group LLC bought a new stake in FS KKR Capital in the 1st quarter valued at $11,747,000. Rockport Wealth LLC increased its holdings in shares of FS KKR Capital by 9.8% in the first quarter. Rockport Wealth LLC now owns 11,367 shares of the company’s stock worth $116,000 after purchasing an additional 1,018 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of FS KKR Capital by 47.9% in the first quarter. Bank of New York Mellon Corp now owns 176,040 shares of the company’s stock worth $1,792,000 after purchasing an additional 57,042 shares during the last quarter. Three Seasons Wealth LLC purchased a new stake in shares of FS KKR Capital in the first quarter worth about $207,000. Finally, Sanctuary Advisors LLC lifted its position in shares of FS KKR Capital by 12.9% in the first quarter. Sanctuary Advisors LLC now owns 713,670 shares of the company’s stock worth $7,265,000 after buying an additional 81,653 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Trading Down 0.7%

FSK opened at $10.85 on Tuesday. The stock has a 50-day moving average of $10.69 and a 200 day moving average of $11.59. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $22.52. The firm has a market cap of $3.04 billion, a P/E ratio of -5.51 and a beta of 0.82.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The company had revenue of $304.00 million for the quarter, compared to analysts’ expectations of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The company’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. As a group, research analysts forecast that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were given a $0.42 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $1.68 dividend on an annualized basis and a yield of 15.5%. FS KKR Capital’s dividend payout ratio (DPR) is currently -85.28%.

Analyst Upgrades and Downgrades

FSK has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their price target on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a report on Thursday, April 16th. Zacks Research cut FS KKR Capital from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wells Fargo & Company lowered their target price on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, FS KKR Capital presently has a consensus rating of “Reduce” and an average price target of $10.58.

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.