Equitable Holdings Inc. Takes Position in FS KKR Capital Corp. $FSK

Equitable Holdings Inc. acquired a new stake in FS KKR Capital Corp. (NYSE:FSK) in the second quarter, Holdings Channel.com reports. The fund acquired 81,424 shares of the company’s stock, valued at approximately $855,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FSK. Centaurus Financial Inc. purchased a new stake in shares of FS KKR Capital during the 2nd quarter valued at approximately $113,000. Capstone Investment Advisors LLC acquired a new position in shares of FS KKR Capital in the 2nd quarter valued at $828,000. Jacobs Equity LLC purchased a new position in shares of FS KKR Capital during the 2nd quarter worth $272,000. Almitas Capital LLC purchased a new stake in FS KKR Capital in the 2nd quarter valued at about $284,000. Finally, Silver Point Capital L.P. acquired a new position in FS KKR Capital in the second quarter valued at about $28,602,000. 36.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FSK has been the topic of a number of research analyst reports. Truist Financial boosted their price target on shares of FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Wall Street Zen raised FS KKR Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $11.43.

FS KKR Capital Stock Performance

NYSE:FSK opened at $12.28 on Friday. The company has a fifty day simple moving average of $11.17 and a two-hundred day simple moving average of $11.08. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -9.10 and a beta of 0.83. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26. FS KKR Capital Corp. has a 52 week low of $9.72 and a 52 week high of $18.25.

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

FS KKR Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 16th. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.3%. FS KKR Capital’s payout ratio is presently -124.44%.

FS KKR Capital 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.