Lalia Capital LLC Purchases New Position in FS KKR Capital Corp. $FSK

Lalia Capital LLC purchased a new position in FS KKR Capital Corp. (NYSE:FSK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 923,146 shares of the company’s stock, valued at approximately $9,693,000. FS KKR Capital accounts for about 4.7% of Lalia Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Lalia Capital LLC owned 0.33% of FS KKR Capital at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 7,726,974 shares during the period. Van ECK Associates Corp raised its stake in shares of 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 during the period. UBS Group AG lifted its position in shares of FS KKR Capital by 15.3% during the 4th quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock valued at $56,368,000 after buying an additional 505,982 shares in the last quarter. Saba Capital Management L.P. acquired a new stake in FS KKR Capital in the 1st quarter valued at $35,729,000. Finally, Oak Hill Advisors LP acquired a new stake in FS KKR Capital in the 4th quarter valued at $38,659,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

NYSE:FSK opened at $11.92 on Friday. The company has a market cap of $3.29 billion, a P/E ratio of -8.83 and a beta of 0.83. 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 price is $11.00 and its 200-day moving average price is $11.12. 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 (NYSE:FSK) last announced its quarterly earnings data 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 company 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. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 16th. 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. FS KKR Capital’s payout ratio is presently -124.44%.

Wall Street Analysts Forecast Growth

FSK has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research note on Tuesday, June 2nd. Wall Street Zen upgraded FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Royal Bank Of Canada reiterated a “sector perform” rating and set a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their target price on FS KKR Capital from $9.50 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, FS KKR Capital currently has an average rating of “Reduce” and a consensus target price of $11.43.

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.