Rockefeller Capital Management L.P. Grows Stake in FS KKR Capital Corp. $FSK

Rockefeller Capital Management L.P. lifted its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 143.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,126,496 shares of the company’s stock after acquiring an additional 663,981 shares during the period. Rockefeller Capital Management L.P.’s holdings in FS KKR Capital were worth $16,683,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in FS KKR Capital by 55,074.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock valued at $114,644,000 after purchasing an additional 7,726,974 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of FS KKR Capital by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 4,083,940 shares of the company’s stock worth $60,484,000 after buying an additional 94,262 shares during the last quarter. UBS Group AG boosted its holdings in shares of FS KKR Capital by 15.3% in the 4th quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock valued at $56,368,000 after buying an additional 505,982 shares in the last quarter. Oak Hill Advisors LP acquired a new position in shares of FS KKR Capital in the 4th quarter valued at $38,659,000. Finally, Legal & General Group Plc boosted its holdings in shares of FS KKR Capital by 15.3% in the 4th quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock valued at $33,993,000 after buying an additional 304,556 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Truist Financial dropped their price objective on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Keefe, Bruyette & Woods cut their target price on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. Wall Street Zen downgraded FS KKR Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a research report on Tuesday, May 12th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $10.58.

FS KKR Capital News Roundup

Here are the key news stories impacting FS KKR Capital this week:

• Neutral Sentiment: Multiple law firms issued class-action reminders and lead-plaintiff deadline notices for FSK shareholders, increasing the stock’s litigation overhang. Article title
• Neutral Sentiment: Rosen Law Firm and others highlighted July lead-plaintiff deadlines, keeping the lawsuit in focus and potentially discouraging sentiment until the case progresses. Article title
• Neutral Sentiment: Earlier earnings results missed analyst estimates, with revenue down year over year, leaving the stock vulnerable to added downside when legal headlines surface. Article title

FS KKR Capital Stock Performance

Shares of FS KKR Capital stock opened at $10.23 on Wednesday. The firm’s fifty day simple moving average is $10.82 and its 200-day simple moving average is $12.19. FS KKR Capital Corp. has a 12 month low of $9.72 and a 12 month high of $22.68. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -5.19 and a beta of 0.83. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.00 and a quick ratio of 2.00.

FS KKR Capital (NYSE:FSK) last issued its quarterly 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). The business had revenue of $304.00 million for the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.The firm’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, equities analysts forecast that FS KKR Capital Corp. will post 1.66 earnings per share for the current year.

FS KKR Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $1.68 annualized dividend and a dividend yield of 16.4%. FS KKR Capital’s dividend payout ratio (DPR) is currently -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.