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

Rockefeller Capital Management L.P. boosted its stake in shares of FS KKR Capital Corp. (NYSE:FSK) by 143.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,126,496 shares of the company’s stock after purchasing an additional 663,981 shares during the quarter. 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.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of FS KKR Capital during the 4th quarter valued at approximately $26,000. Jessup Wealth Management Inc acquired a new position in shares of FS KKR Capital during the 4th quarter worth $26,000. FNY Investment Advisers LLC purchased a new stake in shares of FS KKR Capital in the 4th quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of FS KKR Capital in the 4th quarter worth about $31,000. Finally, Basepoint Wealth LLC acquired a new stake in FS KKR Capital in the 4th quarter valued at about $31,000. 36.26% of the stock is owned by hedge funds and other institutional investors.

FS KKR Capital Price Performance

FS KKR Capital stock opened at $10.23 on Wednesday. The firm has a fifty day moving average of $10.82 and a 200-day moving average of $12.19. FS KKR Capital Corp. has a 52-week low of $9.72 and a 52-week high of $22.68. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $2.87 billion, a P/E ratio of -5.19 and a beta of 0.83.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $316.81 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue was down 24.0% compared to the same quarter last year. As a group, analysts predict that FS KKR Capital Corp. will post 1.66 EPS for the current year.

FS KKR Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 17th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.4%. FS KKR Capital’s dividend payout ratio (DPR) is -85.28%.

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

Wall Street Analysts Forecast Growth

FSK has been the topic of several research reports. B. Riley Financial lowered their price target on shares of FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wells Fargo & Company dropped their price objective on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. 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. Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Finally, Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $10.58.

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.