Muzinich & Co. Inc., a prominent institutional investor, has increased its stake in FS KKR Capital Corp. (NYSE:FSK) by 7.2% during the first quarter, as stated in the company’s latest filing with the Securities and Exchange Commission (SEC). This move sees Muzinich & Co. Inc. now own 506,050 shares of FS KKR Capital’s stock, an addition of 33,970 shares during the quarter. The investment firm’s holdings now account for 6.8% of FS KKR Capital, making it their third largest holding. The overall value of Muzinich & Co. Inc.’s investment in FS KKR Capital is estimated to be approximately $9,362,000.
In addition to this development, FS KKR Capital recently revealed its plans to distribute a quarterly dividend on Tuesday, October 3rd. Shareholders who are recorded on Wednesday, September 13th will receive a dividend of $0.06 per share. It should be noted that Tuesday, September 12th is listed as the ex-dividend date for the payment. This means that investors who purchase FS KKR Capital’s stock on or after this date will not be eligible for the upcoming dividend.
Considering the annualized basis calculation, this dividend represents a payout ratio of 253.47%. Furthermore, based on its current stock price and dividend amount, FS KKR Capital offers investors a dividend yield of approximately 1.20%.
Overall, these recent developments indicate notable activity surrounding FS KKR Capital Corp., particularly concerning Muzinich & Co.Inc.’s increase in stake and the company’s upcoming distribution of dividends to shareholders. Investors and market watchers may find these actions impactful towards their assessment of FS KKR Capital and its performance within the financial sector.
Source:
[Securities and Exchange Commission (SEC): Form 13F filing with the Securities and Exchange Commission (SEC)]
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Institutional Investors Show Interest in FS KKR Capital Corp. as Analysts Share Perspectives and Target Price
FS KKR Capital Corp. (NYSE:FSK) continues to attract interest from institutional investors, as several have recently added or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake worth approximately $34,000 during the first quarter, while Retirement Group LLC acquired a new stake valued at around $39,000 in the fourth quarter. Worth Asset Management LLC and CVA Family Office LLC also entered the picture in the first quarter, acquiring new stakes worth approximately $43,000 and $44,000 respectively. Hollencrest Capital Management rounded out this list with a new stake purchased in the fourth quarter worth about $50,000. Altogether, institutional investors now own 33.66% of FS KKR Capital.
These actions have caught the attention of equities research analysts who have shared their perspectives on FSK shares. TheStreet downgraded FS KKR Capital from a “b-” rating to a “c” rating on August 10th in their report. Oppenheimer, however, raised its price target for FS KKR Capital from $21.00 to $22.00 and gave the stock a “market perform” rating on August 9th. Meanwhile, B. Riley started covering FS KKR Capital on July 27th and issued a “buy” rating along with a price target of $21.00 for the company due to its favorable valuation.
With four research analysts assigning it a hold rating and one giving it a buy rating, FS KKR Capital currently has an average rating of “Hold.” Based on Bloomberg data, analysts’ consensus target price for FS KKR Capital is $20.92.
On Friday’, August 26th’, shares of FS KKR Capital traded at an increased value of $19.98 per share compared to its average volume of 1,019,697 shares exchanged that day alone.’
