Gateway Wealth Partners LLC Sells 709,409 Shares of FS KKR Capital Corp. $FSK

Gateway Wealth Partners LLC trimmed its holdings in FS KKR Capital Corp. (NYSE:FSK) by 95.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,130 shares of the company’s stock after selling 709,409 shares during the period. Gateway Wealth Partners LLC’s holdings in FS KKR Capital were worth $337,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FSK. Northwestern Mutual Wealth Management Co. increased its holdings in shares of FS KKR Capital by 55,074.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock worth $114,644,000 after acquiring an additional 7,726,974 shares during the last quarter. Oak Hill Advisors LP acquired a new stake in FS KKR Capital during the 4th quarter valued at $38,659,000. Balyasny Asset Management L.P. acquired a new stake in FS KKR Capital during the 3rd quarter valued at $21,917,000. Callodine Capital Management LP bought a new position in FS KKR Capital during the first quarter worth $13,587,000. Finally, Independent Financial Group LLC bought a new position in FS KKR Capital during the first quarter worth $11,747,000. 36.26% of the stock is currently owned by institutional investors.

FS KKR Capital Stock Performance

Shares of NYSE FSK opened at $10.56 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.00 and a quick ratio of 2.00. The stock’s fifty day moving average price is $10.68 and its two-hundred day moving average price is $11.37. FS KKR Capital Corp. has a one year low of $9.72 and a one year high of $21.34. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -5.36 and a beta of 0.82.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings data 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 positive return on equity of 4.34% and a negative net margin of 38.65%.The firm had revenue of $304.00 million for the quarter, compared to the consensus estimate of $316.81 million. During the same quarter in the previous year, the business earned $0.65 EPS. The firm’s quarterly revenue was down 24.0% on a year-over-year basis. On average, equities analysts forecast that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th were paid a $0.42 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $1.68 annualized dividend and a dividend yield of 15.9%. FS KKR Capital’s dividend payout ratio is -85.28%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FSK. 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 on the stock in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods reduced their target price on shares of 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. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $11.00 price target on shares of FS KKR Capital in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of FS KKR Capital from a “sell” rating to a “hold” rating in a research report on Saturday. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, FS KKR Capital presently 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.