Global Retirement Partners LLC Makes New Investment in FS KKR Capital Corp. $FSK

Global Retirement Partners LLC acquired a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,085 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FSK. Jessup Wealth Management Inc bought a new stake in shares of FS KKR Capital in the 4th quarter worth about $26,000. Basepoint Wealth LLC bought a new position in FS KKR Capital during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its holdings in FS KKR Capital by 201.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock valued at $40,000 after purchasing an additional 1,789 shares during the last quarter. Knott David M Jr acquired a new position in FS KKR Capital in the fourth quarter valued at about $43,000. Finally, Kingdom Financial Group LLC. acquired a new position in FS KKR Capital in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

FS KKR Capital Stock Down 0.7%

Shares of NYSE:FSK opened at $11.93 on Wednesday. The company has a 50 day moving average price of $10.94 and a two-hundred day moving average price of $11.14. The company has a market capitalization of $3.30 billion, a PE ratio of -8.83 and a beta of 0.83. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $18.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.28 and a current ratio of 2.28.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $290.00 million during the quarter, compared to analysts’ expectations of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same quarter in the prior year, the company earned ($0.75) EPS. Analysts forecast that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.

FS KKR Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Wednesday, September 16th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend 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 is currently -124.44%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Capital One Financial set a $12.00 target price on FS KKR Capital in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Truist Financial lifted their price objective on FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target 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.