Ares Management LLC purchased a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,237,983 shares of the company’s stock, valued at approximately $26,629,000. FS KKR Capital comprises about 0.9% of Ares Management LLC’s investment portfolio, making the stock its 11th biggest position.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. PAX Financial Group LLC bought a new stake in FS KKR Capital during the 2nd quarter worth approximately $611,000. Lincoln National Corp grew its holdings in FS KKR Capital by 48.9% during the 2nd quarter. Lincoln National Corp now owns 34,054 shares of the company’s stock worth $732,000 after acquiring an additional 11,181 shares during the last quarter. Sigma Planning Corp grew its holdings in FS KKR Capital by 152.6% during the 2nd quarter. Sigma Planning Corp now owns 104,270 shares of the company’s stock worth $2,243,000 after acquiring an additional 62,987 shares during the last quarter. Wealthstar Advisors LLC acquired a new position in shares of FS KKR Capital in the 2nd quarter worth approximately $1,916,000. Finally, Neuberger Berman Group LLC lifted its position in shares of FS KKR Capital by 11.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 381,944 shares of the company’s stock worth $8,216,000 after purchasing an additional 39,895 shares during the period. 30.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FS KKR Capital stock traded down $0.27 during trading on Thursday, reaching $22.86. 13,324 shares of the company traded hands, compared to its average volume of 1,312,767. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.84 and a quick ratio of 2.84. FS KKR Capital Corp. has a 1-year low of $14.22 and a 1-year high of $23.44. The company has a 50 day moving average price of $22.64 and a 200-day moving average price of $21.76. The firm has a market capitalization of $6.52 billion, a PE ratio of 2.26 and a beta of 1.56.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 4th. Shareholders of record on Wednesday, September 15th were issued a dividend of $0.65 per share. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, September 14th. This represents a $2.60 annualized dividend and a yield of 11.37%. FS KKR Capital’s dividend payout ratio is presently 94.55%.
A number of brokerages have recently issued reports on FSK. Zacks Investment Research downgraded shares of FS KKR Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 12th. Royal Bank of Canada began coverage on shares of FS KKR Capital in a research report on Thursday, June 17th. They issued a “sector perform” rating and a $23.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, FS KKR Capital has a consensus rating of “Hold” and an average target price of $21.13.
In other news, insider Brian Gerson bought 5,000 shares of FS KKR Capital stock in a transaction dated Thursday, August 26th. The stock was purchased at an average price of $22.95 per share, for a total transaction of $114,750.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $114,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William Balke Goebel purchased 1,100 shares of FS KKR Capital stock in a transaction that occurred on Wednesday, August 18th. The shares were bought at an average price of $22.92 per share, with a total value of $25,212.00. Following the transaction, the chief accounting officer now owns 4,459 shares of the company’s stock, valued at approximately $102,200.28. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 23,940 shares of company stock worth $550,308. Corporate insiders own 0.18% of the company’s stock.
About FS KKR Capital
FS KKR Capital Corp. is an externally managed, non-diversified, closed-end management investment and finance company that invests primarily in the debt securities of private middle market U.S. companies. Its objectives are to generate current income and, to a lesser extent, long-term capital appreciation.
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