Legacy Capital Group California Inc. Has $1.31 Million Holdings in FS KKR Capital Corp. $FSK

Legacy Capital Group California Inc. cut its stake in FS KKR Capital Corp. (NYSE:FSK) by 59.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,689 shares of the company’s stock after selling 184,926 shares during the period. Legacy Capital Group California Inc.’s holdings in FS KKR Capital were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 purchasing an additional 7,726,974 shares in the last quarter. Van ECK Associates Corp lifted its holdings in FS KKR Capital by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 4,083,940 shares of the company’s stock worth $60,484,000 after buying an additional 94,262 shares in the last quarter. UBS Group AG lifted its holdings in FS KKR Capital by 15.3% during the 4th quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock worth $56,368,000 after buying an additional 505,982 shares in the last quarter. Oak Hill Advisors LP bought a new position in FS KKR Capital in the 4th quarter valued at $38,659,000. Finally, Legal & General Group Plc boosted its position in FS KKR Capital by 15.3% in the 4th quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock valued at $33,993,000 after buying an additional 304,556 shares during the last quarter. 36.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FSK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, April 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $11.00 price target on shares of FS KKR Capital in a report on Tuesday, May 12th. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company cut their target price on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, FS KKR Capital has an average rating of “Reduce” and an average price target of $10.58.

FS KKR Capital Stock Up 0.1%

FS KKR Capital stock opened at $10.81 on Tuesday. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -5.49 and a beta of 0.82. The company’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $11.72. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.00 and a quick ratio of 2.00. FS KKR Capital Corp. has a fifty-two week low of $9.72 and a fifty-two week high of $22.68.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $304.00 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. As a group, sell-side analysts anticipate that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Dividend Announcement

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

FS KKR Capital Company 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.