WESPAC Advisors LLC Cuts Holdings in FS KKR Capital Corp. (NYSE:FSK)

WESPAC Advisors LLC lessened its holdings in FS KKR Capital Corp. (NYSE:FSK) by 45.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,667 shares of the company’s stock after selling 14,807 shares during the period. WESPAC Advisors LLC’s holdings in FS KKR Capital were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FSK. Van ECK Associates Corp grew its position in shares of FS KKR Capital by 26.9% during the 1st quarter. Van ECK Associates Corp now owns 6,603,828 shares of the company’s stock valued at $125,935,000 after acquiring an additional 1,398,998 shares during the period. Commonwealth Equity Services LLC increased its position in FS KKR Capital by 3.4% in the first quarter. Commonwealth Equity Services LLC now owns 4,331,784 shares of the company’s stock worth $82,607,000 after buying an additional 141,625 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of FS KKR Capital by 1.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,143,793 shares of the company’s stock valued at $40,882,000 after buying an additional 34,416 shares during the period. LSV Asset Management lifted its position in shares of FS KKR Capital by 3.2% during the 1st quarter. LSV Asset Management now owns 1,966,418 shares of the company’s stock valued at $37,500,000 after buying an additional 60,700 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of FS KKR Capital by 21.0% during the 1st quarter. Kestra Advisory Services LLC now owns 1,218,960 shares of the company’s stock worth $23,411,000 after acquiring an additional 211,961 shares during the period. 36.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FSK has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on FS KKR Capital from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. B. Riley restated a “buy” rating and set a $21.00 price target (up from $20.00) on shares of FS KKR Capital in a research note on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $20.00 price objective on shares of FS KKR Capital in a report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, FS KKR Capital presently has an average rating of “Hold” and an average target price of $20.06.

Insiders Place Their Bets

In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of FS KKR Capital stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $19.21 per share, for a total transaction of $96,050.00. Following the completion of the transaction, the insider now directly owns 44,800 shares of the company’s stock, valued at $860,608. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Michael C. Forman sold 195,139 shares of FS KKR Capital stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.56, for a total value of $3,816,918.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel Pietrzak bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $19.21 per share, with a total value of $96,050.00. Following the completion of the acquisition, the insider now directly owns 44,800 shares in the company, valued at $860,608. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

FS KKR Capital Stock Performance

FS KKR Capital stock remained flat at $20.23 during midday trading on Friday. The company had a trading volume of 1,134,107 shares, compared to its average volume of 1,470,632. The firm has a market capitalization of $5.67 billion, a P/E ratio of 8.43 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 2.26 and a current ratio of 2.26. The stock’s 50-day moving average price is $19.89 and its 200-day moving average price is $19.63. FS KKR Capital Corp. has a twelve month low of $18.31 and a twelve month high of $20.99.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Tuesday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. FS KKR Capital had a net margin of 37.06% and a return on equity of 12.42%. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $426.41 million. During the same period last year, the firm posted $0.78 earnings per share. As a group, sell-side analysts expect that FS KKR Capital Corp. will post 2.82 earnings per share for the current year.

FS KKR Capital Dividend Announcement

The company also recently declared a None dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, September 11th. This represents a yield of 14.6%. FS KKR Capital’s payout ratio is 106.67%.

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.