FS KKR Capital (NYSE:FSK) Downgraded to Neutral Rating by B. Riley

B. Riley lowered shares of FS KKR Capital (NYSE:FSK) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat.com reports. They currently have $21.50 price objective on the stock.

A number of other equities analysts have also recently issued reports on FSK. Wells Fargo & Company reiterated an “equal weight” rating and set a $21.00 price objective on shares of FS KKR Capital in a research report on Monday, December 2nd. Royal Bank of Canada upped their target price on FS KKR Capital from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.25.

FS KKR Capital Stock Performance

NYSE FSK opened at $21.34 on Wednesday. FS KKR Capital has a 1 year low of $18.31 and a 1 year high of $22.39. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 11.35 and a beta of 1.25. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.21. The firm’s 50 day simple moving average is $20.93 and its 200 day simple moving average is $20.27.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. FS KKR Capital had a return on equity of 12.31% and a net margin of 29.98%. The firm had revenue of $441.00 million for the quarter, compared to the consensus estimate of $423.58 million. During the same quarter last year, the business posted $0.80 EPS. As a group, research analysts expect that FS KKR Capital will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently announced a None dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from FS KKR Capital’s previous None dividend of $0.64. This represents a yield of 12.7%. FS KKR Capital’s payout ratio is presently 136.17%.

Insider Activity

In other news, insider Brian Gerson bought 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average price of $22.08 per share, with a total value of $110,400.00. Following the completion of the purchase, the insider now directly owns 15,109 shares of the company’s stock, valued at approximately $333,606.72. This represents a 49.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders purchased 11,500 shares of company stock valued at $248,910. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FSK. International Assets Investment Management LLC lifted its holdings in shares of FS KKR Capital by 1,967.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,165,817 shares of the company’s stock worth $62,462,000 after purchasing an additional 3,012,711 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in FS KKR Capital during the 2nd quarter worth $19,544,000. Legacy Investment Solutions LLC bought a new stake in shares of FS KKR Capital in the 3rd quarter worth $7,830,000. Flagship Harbor Advisors LLC purchased a new stake in shares of FS KKR Capital in the third quarter valued at about $7,290,000. Finally, Van ECK Associates Corp lifted its position in shares of FS KKR Capital by 6.6% during the third quarter. Van ECK Associates Corp now owns 5,747,770 shares of the company’s stock valued at $117,886,000 after purchasing an additional 356,704 shares in the last quarter. 36.26% of the stock is owned by institutional investors.

FS KKR Capital Company Profile

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.