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River Road Asset Management LLC Lowers Holdings in FS KKR Capital Corp. (NYSE:FSK)

Financial News Live · Jan 23, 2023 12:51

River Road Asset Management LLC lessened its stake in FS KKR Capital Corp. (NYSE:FSK – Get Rating) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,802,866 shares of the company's stock after selling 39,853 shares during the quarter. River Road Asset Management LLC owned 0.64% of FS KKR Capital worth $30,559,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cetera Advisors LLC boosted its position in FS KKR Capital by 17.0% in the 2nd quarter. Cetera Advisors LLC now owns 386,030 shares of the company's stock worth $7,497,000 after purchasing an additional 55,967 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of FS KKR Capital in the 2nd quarter valued at about $493,000. Wedbush Securities Inc. raised its holdings in FS KKR Capital by 11.3% in the 2nd quarter. Wedbush Securities Inc. now owns 31,341 shares of the company's stock worth $609,000 after purchasing an additional 3,183 shares during the period. Prospera Financial Services Inc boosted its position in FS KKR Capital by 6.7% during the third quarter. Prospera Financial Services Inc now owns 273,222 shares of the company's stock worth $4,631,000 after purchasing an additional 17,141 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its holdings in FS KKR Capital by 17.8% in the third quarter. Carmel Capital Partners LLC now owns 18,135 shares of the company's stock valued at $307,000 after purchasing an additional 2,734 shares during the period. Hedge funds and other institutional investors own 41.43% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have recently issued reports on FSK shares. Hovde Group decreased their target price on FS KKR Capital to $21.00 in a research report on Wednesday, October 5th. Royal Bank of Canada decreased their price objective on shares of FS KKR Capital from $23.00 to $21.00 and set a "sector perform" rating on the stock in a report on Thursday, November 10th. Finally, Wells Fargo & Company boosted their target price on shares of FS KKR Capital from $18.00 to $18.50 and gave the stock an "equal weight" rating in a research note on Wednesday, November 9th.

FS KKR Capital Price Performance

FSK stock traded up $0.04 during midday trading on Monday, reaching $19.24. The stock had a trading volume of 227,769 shares, compared to its average volume of 1,018,062. FS KKR Capital Corp. has a 52-week low of $16.70 and a 52-week high of $23.44. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.28. The company's fifty day simple moving average is $18.59 and its 200 day simple moving average is $19.58. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 27.01 and a beta of 1.37.

FS KKR Capital (NYSE:FSK – Get Rating) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.73 earnings per share for the quarter, hitting analysts' consensus estimates of $0.73. The firm had revenue of $411.00 million for the quarter, compared to analyst estimates of $407.90 million. FS KKR Capital had a net margin of 13.29% and a return on equity of 10.47%. As a group, sell-side analysts predict that FS KKR Capital Corp. will post 2.87 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Wednesday, December 14th were issued a $0.68 dividend. This is a boost from FS KKR Capital's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 14.14%. The ex-dividend date was Tuesday, December 13th. FS KKR Capital's dividend payout ratio is presently 338.89%.

Insiders Place Their Bets

In other news, insider Daniel Pietrzak purchased 6,000 shares of the company's stock in a transaction dated Wednesday, November 9th. The stock was acquired at an average price of $18.76 per share, with a total value of $112,560.00. Following the purchase, the insider now directly owns 27,500 shares in the company, valued at approximately $515,900. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.20% of the company's stock.

About FS KKR Capital

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FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.