OMERS ADMINISTRATION Corp Makes New $7.55 Million Investment in FS KKR Capital Corp. $FSK

OMERS ADMINISTRATION Corp bought a new stake in FS KKR Capital Corp. (NYSE:FSK) in the 2nd quarter, HoldingsChannel reports. The firm bought 718,860 shares of the company’s stock, valued at approximately $7,548,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jessup Wealth Management Inc purchased a new position in shares of FS KKR Capital during the 4th quarter worth $26,000. Basepoint Wealth LLC purchased a new stake in shares of FS KKR Capital in the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC grew its holdings in shares of FS KKR Capital by 201.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock valued at $40,000 after purchasing an additional 1,789 shares during the period. Harborfront Financial Group LLC acquired a new stake in FS KKR Capital during the second quarter worth about $30,000. Finally, Knott David M Jr acquired a new stake in FS KKR Capital during the fourth quarter worth about $43,000. 36.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Capital One Financial set a $12.00 price target on shares of FS KKR Capital in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of FS KKR Capital from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Truist Financial upped their price objective on FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, August 7th. Finally, Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $11.43.

FS KKR Capital Stock Up 1.3%

Shares of NYSE:FSK opened at $12.06 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $3.33 billion, a PE ratio of -8.94 and a beta of 0.83. The firm’s 50-day moving average is $11.03 and its two-hundred day moving average is $11.09. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $18.25.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The business had revenue of $290.00 million during the quarter, compared to analyst estimates of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same quarter last year, the firm posted ($0.75) earnings per share. Analysts predict that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders 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 annualized dividend and a yield of 14.6%. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s dividend payout ratio is -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.