May 16, 2023 – Envestnet Asset Management Inc., a renowned investment management service provider, has significantly boosted its shares in FS KKR Capital Corp. (NYSE:FSK) by 80.3%, according to its latest 13F filing with the Securities & Exchange Commission. The investment firm now owns approximately 222,835 shares of FSK’s stock, worth $3,900,000 following the acquisition of an additional 99,276 stocks during the previous quarter.
FS KKR Capital released its quarterly earnings report on Monday, February 27th, announcing an earnings per share (EPS) of $0.81 for that period. The business acquired revenue totaling $449 million during the quarter compared to an estimated consensus estimate of $431.49 million. FSK had a return on equity of about 11.72% and a net margin of approximately 3.89%. It should be noted that in comparison to the same quarter last year; there was a recorded increase in revenue by about 23.4%.
Numerous research analysts have been examining FS KKR Capital’s recent activities and performance critically- details which are abridged in recent research reports with diverse recommendations and price targets for investors keen on investing in the company’ shares.
Oppenheimer initiated coverage on FS KKR Capital on April 11th this year, issuing a “market perform” rating while giving the stock a price target of $21.00 per share. Keefe Bruyette & Woods also published their research report with analysts boosting their price target on FSK from $21 to $21.50 while exclusively giving it ‘Market Perform Rating.’ Wells Fargo & Company also published another report stating that they lifted their target price on FS KKR Capital from $18.50 to an even $19 per share with an “equal weight” rating.
With all indicators pointing towards positive outlooks for FS KKR Capital, investors looking to take a position in the financial industry may consider this company as part of their overall investment portfolio. expected EPS for FS KKR Capital Corp. is expected to be around $3.05 this year, hence investors should keep watch and evaluate developments keenly before making any investment decisions.
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Hedge Funds Take Notice as Shares of FS KKR Capital Corp. Gain Attention from Investors and Insiders Alike
FS KKR Capital Corp. (NYSE: FSK) has been in the limelight recently, as several hedge funds move to either reduce or expand their holdings in the company. Inspire Advisors LLC increased its holdings by 6.6% during the third quarter and now owns 12,359 shares of the stock valued at $209,000. Mutual Advisors LLC upped its stake by 5.3% during the same quarter and today holds nearly 30,000 shares of the company’s stock worth $503,000. Ergoteles LLC entered a new position in shares of FS KKR Capital during Q3 worth $726,000 while Concord Wealth Partners bought a new position in Q4 worth $48,000. Finally, Pinnacle Wealth Planning Services Inc. bolstered its position by over 50% in Q3 to own approximately 375,000 shares of FSK’s stock worth more than $6 million.
Shares opened at $19.07 on Tuesday with a market capitalization of $5.34 billion and a P/E ratio of an alarming 79.46 with a beta of 1.40 – both indicators pointing towards high-risk investment opportunities which are often characterized with severe fluctuations and instability.
FSK has also received mixed reports from analysts lately; Oppenheimer initiated coverage on FS KKR Capital reporting a “market perform” rating for this stock along with a price target of $21 per share on April 11th . Keefe, Bruyette & Woods gave similar ratings; these analysts raised FSK’s price target slightly higher to $21.50 from its initial base target amount while confirming it to be rated as “market perform.” Wells Fargo & Company lifted their target pricing further from that base estimate to reach $19 per share.
Additionally, FS KKR Capital recently declared its quarterly dividend payout which will be paid out come Wednesday July 5th this year . Shareholders who held shares of record on Wednesday June 14th were issued a $0.64 dividend amount. This payout represents an annualized payout ratio of a staggering 1,066.67%, with a yield of nearly 13.42%. The ex-dividend date was set to be Tuesday June 13th.
In other news – two directors of FS KKR Capital, Barbara Adams and Elizabeth Sandler have both bought stakes in the company’s stock; Adams invested over $68,000 for buying close to 3,600 shares while Sandler purchased over $49,000 worth of stock in March this year. It is interesting to note that insiders at the company have purchased over 9,000 shares valued at more than $176,000 within the past three months alone – contributing to roughly 0.20 percent of total ownership in terms of corporate insiders.
With high-risk investment plans and inconsistent reports from analysts despite healthy growth prospects as well as lucrative dividends – investors must approach FSK’s stock with caution and conduct thorough due diligence before entering into any investment decisions with the company.
