Wells Fargo & Company Downgrades FS KKR Capital (NYSE:FSK) to Underweight

Wells Fargo & Company cut shares of FS KKR Capital (NYSE:FSK) from an equal weight rating to an underweight rating in a report released on Monday morning, Marketbeat reports. They currently have $19.00 price objective on the stock, down from their prior price objective of $21.00.

Several other equities research analysts have also commented on FSK. Keefe, Bruyette & Woods boosted their price target on shares of FS KKR Capital from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, March 3rd. Royal Bank of Canada boosted their price target on shares of FS KKR Capital from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Monday, March 3rd. B. Riley lowered shares of FS KKR Capital from a “buy” rating to a “neutral” rating and set a $21.50 price target for the company. in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of FS KKR Capital from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.30.

FS KKR Capital Stock Performance

Shares of NYSE FSK opened at $21.23 on Monday. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.21. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 11.29 and a beta of 1.22. The company has a 50 day simple moving average of $22.67 and a two-hundred day simple moving average of $21.43. FS KKR Capital has a 12 month low of $18.33 and a 12 month high of $24.10.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Wednesday, February 26th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $407.00 million for the quarter, compared to analysts’ expectations of $419.97 million. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. As a group, analysts predict that FS KKR Capital will post 2.89 earnings per share for the current year.

FS KKR Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.80 annualized dividend and a dividend yield of 13.19%. FS KKR Capital’s payout ratio is 122.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FSK. Generali Asset Management SPA SGR acquired a new position in shares of FS KKR Capital during the 4th quarter valued at about $17,608,000. Van ECK Associates Corp lifted its position in FS KKR Capital by 11.7% in the fourth quarter. Van ECK Associates Corp now owns 6,421,190 shares of the company’s stock valued at $139,469,000 after buying an additional 673,420 shares during the last quarter. Transce3nd LLC acquired a new position in FS KKR Capital in the fourth quarter valued at about $11,173,000. Legacy Investment Solutions LLC acquired a new position in FS KKR Capital in the third quarter valued at about $7,830,000. Finally, Raymond James Financial Inc. purchased a new stake in FS KKR Capital during the fourth quarter worth about $6,499,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.