Sanctuary Advisors LLC Takes Position in FS KKR Capital Corp. $FSK

Sanctuary Advisors LLC acquired a new stake in FS KKR Capital Corp. (NYSE:FSK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 670,765 shares of the company’s stock, valued at approximately $7,043,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jessup Wealth Management Inc acquired a new position in FS KKR Capital in the 4th quarter valued at about $26,000. Harborfront Financial Group LLC acquired a new stake in shares of FS KKR Capital during the 2nd quarter worth approximately $30,000. Basepoint Wealth LLC purchased a new stake in shares of FS KKR Capital during the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its position in shares of 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 buying an additional 1,789 shares during the period. Finally, Knott David M Jr purchased a new stake in shares of FS KKR Capital during the 4th quarter valued at approximately $43,000. 36.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSK has been the topic of several recent analyst reports. Capital One Financial set a $12.00 price target on FS KKR Capital in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of FS KKR Capital from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Wells Fargo & Company lowered their price objective 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. 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, Truist Financial lifted their price target on FS KKR Capital from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $11.43.

FS KKR Capital Stock Up 1.3%

FSK stock opened at $12.06 on Tuesday. The stock has a market cap of $3.33 billion, a P/E ratio of -8.94 and a beta of 0.83. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $18.25. The company’s 50 day moving average is $11.03 and its two-hundred day moving average is $11.09.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business posted ($0.75) EPS. Research 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 14.6%. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, September 16th. FS KKR Capital’s dividend payout ratio is presently -124.44%.

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.