Van ECK Associates Corp Increases Holdings in FS KKR Capital Corp. $FSK

Van ECK Associates Corp raised its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 13.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,382,748 shares of the company’s stock after purchasing an additional 636,889 shares during the period. Van ECK Associates Corp’s holdings in FS KKR Capital were worth $56,519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jessup Wealth Management Inc bought a new stake in shares of FS KKR Capital in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of FS KKR Capital during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its holdings in shares of FS KKR Capital by 201.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock valued at $40,000 after acquiring an additional 1,789 shares in the last quarter. Harborfront Financial Group LLC bought a new position in shares of FS KKR Capital during the second quarter valued at approximately $30,000. Finally, Knott David M Jr purchased a new stake in FS KKR Capital in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FSK. Truist Financial lifted their price target 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 restated a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. JPMorgan Chase & Co. raised their target price on shares of FS KKR Capital from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Finally, Wells Fargo & Company reduced their price target 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 analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $11.43.

FS KKR Capital Trading Up 0.4%

NYSE FSK opened at $12.28 on Friday. The firm has a market capitalization of $3.39 billion, a PE ratio of -9.10 and a beta of 0.83. The stock’s 50 day moving average is $11.17 and its 200 day moving average is $11.08. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $18.25. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $290.00 million during the quarter, compared to the consensus estimate of $286.75 million. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.During the same quarter in the prior year, the company earned ($0.75) earnings per share. Research 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 firm also recently announced 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 of this dividend is Wednesday, September 16th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.3%. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s payout ratio is currently -124.44%.

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.