Concorde Asset Management LLC Takes $771,000 Position in FS KKR Capital Corp. $FSK

Concorde Asset Management LLC bought a new stake in FS KKR Capital Corp. (NYSE:FSK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 70,634 shares of the company’s stock, valued at approximately $771,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSK. Northwestern Mutual Wealth Management Co. raised its stake in FS KKR Capital by 55,074.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock valued at $114,644,000 after buying an additional 7,726,974 shares during the period. Saba Capital Management L.P. bought a new position in shares of FS KKR Capital during the 1st quarter worth approximately $35,729,000. Legal & General Group Plc acquired a new position in shares of FS KKR Capital during the 2nd quarter worth approximately $28,742,000. Silver Point Capital L.P. acquired a new position in shares of FS KKR Capital during the 2nd quarter worth approximately $28,602,000,000. Finally, Oak Hill Advisors LP acquired a new position in shares of FS KKR Capital in the fourth quarter valued at $38,659,000. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Trading Up 0.7%

FSK stock opened at $12.24 on Friday. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $18.25. The company has a market capitalization of $3.38 billion, a PE ratio of -9.07 and a beta of 0.83. The company’s 50-day simple moving average is $11.13 and its 200 day simple moving average is $11.08. 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 issued its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, topping 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 previous year, the company earned ($0.75) EPS. As a group, sell-side analysts anticipate 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. Stockholders of record on Wednesday, September 16th will be given a $0.44 dividend. The ex-dividend date is Wednesday, September 16th. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.4%. FS KKR Capital’s dividend payout ratio (DPR) is presently -124.44%.

Wall Street Analyst Weigh In

Several analysts recently commented on FSK shares. Truist Financial lifted their target price on shares of FS KKR Capital from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of FS KKR Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Wells Fargo & Company reduced their price objective on 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $11.43.

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.