Everest Financial Group LLC Makes New Investment in FS KKR Capital Corp. $FSK

Everest Financial Group LLC purchased a new stake in FS KKR Capital Corp. (NYSE:FSK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 48,506 shares of the company’s stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bison Wealth LLC increased its holdings in FS KKR Capital by 3.4% in the 4th quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock worth $476,000 after purchasing an additional 720 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of FS KKR Capital by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,890 shares of the company’s stock valued at $5,612,000 after acquiring an additional 32,258 shares during the period. Empowered Funds LLC increased its position in shares of FS KKR Capital by 139.9% during the first quarter. Empowered Funds LLC now owns 26,744 shares of the company’s stock worth $560,000 after acquiring an additional 15,596 shares in the last quarter. Marshall Wace LLP bought a new stake in FS KKR Capital in the 2nd quarter worth about $1,806,000. Finally, Nebula Research & Development LLC increased its holdings in FS KKR Capital by 83.1% during the second quarter. Nebula Research & Development LLC now owns 20,236 shares of the company’s stock worth $420,000 after buying an additional 9,183 shares during the last quarter. 36.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $11.00 price target on shares of FS KKR Capital in a research note on Tuesday, May 12th. Zacks Research downgraded shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods cut their price objective on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company dropped their target price on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $10.58.

FS KKR Capital Stock Down 0.0%

Shares of NYSE:FSK opened at $10.62 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $2.98 billion, a P/E ratio of -5.39 and a beta of 0.82. The stock has a 50 day moving average price of $10.68 and a 200-day moving average price of $11.48. FS KKR Capital Corp. has a 52-week low of $9.72 and a 52-week high of $22.30.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The business had revenue of $304.00 million for the quarter, compared to the consensus estimate of $316.81 million. During the same period in the prior year, the business posted $0.65 EPS. FS KKR Capital’s revenue for the quarter was down 24.0% on a year-over-year basis. As a group, equities research analysts anticipate that FS KKR Capital Corp. will post 1.64 EPS for the current fiscal year.

FS KKR Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 15.8%. The ex-dividend date of this dividend was Wednesday, June 17th. FS KKR Capital’s payout ratio is presently -85.28%.

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.