Callodine Capital Management LP Takes Position in FS KKR Capital Corp. $FSK

Callodine Capital Management LP bought a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) in the 1st quarter, Holdings Channel.com reports. The firm bought 1,334,709 shares of the company’s stock, valued at approximately $13,587,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Van Diest Capital LLC purchased a new stake in shares of FS KKR Capital during the first quarter valued at approximately $378,000. Inceptionr LLC boosted its position in FS KKR Capital by 126.7% during the 1st quarter. Inceptionr LLC now owns 72,112 shares of the company’s stock valued at $734,000 after buying an additional 40,296 shares during the period. Alamar Capital Management LLC bought a new stake in FS KKR Capital in the 1st quarter worth $149,000. Lido Advisors LLC increased its position in shares of FS KKR Capital by 6.3% in the first quarter. Lido Advisors LLC now owns 626,540 shares of the company’s stock valued at $6,436,000 after acquiring an additional 37,401 shares during the period. Finally, Millennium Capital Advisors LLC increased its position in shares of FS KKR Capital by 29.4% in the first quarter. Millennium Capital Advisors LLC now owns 48,418 shares of the company’s stock valued at $493,000 after acquiring an additional 11,000 shares during the period. 36.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FSK shares. Keefe, Bruyette & Woods lowered their price objective on shares of FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Wells Fargo & Company cut their price objective on 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. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $11.00 target price on shares of FS KKR Capital in a research note on Tuesday, May 12th. Six research 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, the stock has a consensus rating of “Reduce” and a consensus price target of $10.58.

FS KKR Capital Trading Up 0.4%

Shares of FSK opened at $10.62 on Friday. FS KKR Capital Corp. has a 1-year low of $9.72 and a 1-year high of $22.30. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38. The firm’s 50-day moving average price is $10.68 and its 200-day moving average price is $11.50. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -5.39 and a beta of 0.82.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results 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). FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.The company had revenue of $304.00 million during the quarter, compared to the consensus estimate of $316.81 million. During the same period in the previous year, the company earned $0.65 earnings per share. FS KKR Capital’s quarterly revenue was down 24.0% on a year-over-year basis. Sell-side analysts anticipate that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, June 17th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 15.8%. FS KKR Capital’s dividend payout ratio is -85.28%.

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.