Southside Capital LLC purchased a new position in shares of FS KKR Capital Corp (NYSE:FSK) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,850,000 shares of the company’s stock, valued at approximately $11,026,000. FS KKR Capital makes up 3.2% of Southside Capital LLC’s investment portfolio, making the stock its 7th biggest position. Southside Capital LLC owned approximately 0.35% of FS KKR Capital as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of FSK. Beach Point Capital Management LP purchased a new stake in FS KKR Capital in the 2nd quarter valued at $115,333,000. Commonwealth Equity Services LLC acquired a new position in shares of FS KKR Capital in the 2nd quarter valued at $66,831,000. Van ECK Associates Corp acquired a new position in shares of FS KKR Capital in the 2nd quarter valued at $21,168,000. Advisor Group Inc. acquired a new position in shares of FS KKR Capital in the 2nd quarter valued at $20,073,000. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of FS KKR Capital in the 2nd quarter valued at $8,713,000. Hedge funds and other institutional investors own 29.14% of the company’s stock.
In other news, Director Richard I. Goldstein bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average price of $5.99 per share, with a total value of $29,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel Pietrzak bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of $5.94 per share, for a total transaction of $59,400.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 50,107 shares of company stock worth $294,452. 0.35% of the stock is owned by corporate insiders.
FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. FS KKR Capital had a return on equity of 8.66% and a net margin of 12.11%. The business had revenue of $199.00 million for the quarter, compared to analyst estimates of $194.84 million. On average, sell-side analysts expect that FS KKR Capital Corp will post 0.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 13.45%. The ex-dividend date is Tuesday, September 17th. FS KKR Capital’s payout ratio is 89.41%.
Several equities analysts have recently commented on the company. National Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of FS KKR Capital in a research note on Monday, May 13th. JPMorgan Chase & Co. raised FS KKR Capital from a “neutral” rating to an “overweight” rating and set a $6.50 price target on the stock in a research note on Friday, August 9th. Zacks Investment Research raised FS KKR Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. ValuEngine lowered FS KKR Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Finally, Raymond James assumed coverage on FS KKR Capital in a research note on Wednesday, June 5th. They issued a “market perform” rating and a $6.01 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.38.
About FS KKR Capital
FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.
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