Van ECK Associates Corp Increases Holdings in FS KKR Capital Corp.

Van ECK Associates Corp has boosted its stake in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 6.6% during the third quarter, as per their recent filing with the SEC. After acquiring an additional 356,704 shares, the institutional investor now holds a total of 5,747,770 shares in the company.

As of the latest filing, Van ECK Associates Corp possesses 2.05% of FS KKR Capital, valued at approximately $117,886,000.

Recent Activity by Other Investors

Several other institutional investors and hedge funds have been active in buying and selling shares of FS KKR Capital. Notably, Norden Group LLC established a new stake in FS KKR Capital during the first quarter, with an investment of about $1,362,000. Similarly, Diversify Advisory Services LLC also purchased a new stake valued at around $662,000 in the same period.

Janney Montgomery Scott LLC saw a 30.0% growth in its position during the first quarter and now owns 64,859 shares valued at $1,237,000 after acquiring an extra 14,977 shares. Choreo LLC increased its position by 3.1%, owning 30,116 shares after obtaining an additional 897 shares, bringing its total value to $574,000.

Finally, BI Asset Management Fondsmaeglerselskab A S expanded its stake by 38.3% in the first quarter, now owning 146,100 shares worth $2,786,000 after adding 40,460 shares. Collectively, institutional investors and hedge funds account for 36.26% of FS KKR Capital's stock.

Insider Transactions

In related news, FS KKR Capital's CEO, Michael C. Forman, sold 195,139 shares on August 15th, realizing $3,816,918.84 from the transaction at an average price of $19.56 per share. This sale was reported in a filing with the SEC.

Conversely, insider Daniel Pietrzak bought 5,000 shares on August 8th for an average price of $19.21, at a total cost of $96,050. Following this transaction, Pietrzak owns 44,800 shares valued at around $860,608, which demonstrates a slight increase in ownership. Currently, company insiders hold 0.25% of FS KKR Capital's shares.

Stock Performance

On Friday, shares of FS KKR Capital closed at $20.14, reflecting a decline of 0.5%, with a total of 1,241,255 shares changing hands, compared to the average of 1,055,415 shares. The company's market capitalization stands at $5.64 billion, with a P/E ratio of 8.91. FS KKR Capital's stock has a quick ratio of 2.34, a current ratio of 2.34, and a debt-to-equity ratio of 1.19. The 50-day and 200-day moving averages are $20.07 and $19.91, respectively. The stock has ranged between $18.31 and $20.99 over the past year.

In its latest earnings report released on August 6th, FS KKR Capital reported earnings per share (EPS) of $0.75, exceeding the consensus estimate of $0.71. The firm's return on equity was noted at 12.39% with a net margin of 35.46%, generating revenues of $439.00 million, which surpassed analyst forecasts of $426.41 million.

Dividend Announcement

The company also announced a new dividend of $0.70 per share, scheduled for payment on December 18th to investors of record on December 4th. This marks an increase from the previous dividend of $0.64 and represents a yield of 12.7%. FS KKR Capital's dividend payout ratio is 113.27%.

Analyst Opinions

Analysis from various financial experts indicates mixed performance expectations for FS KKR Capital. Wells Fargo & Company adjusted its price target from $21.00 to $20.00 while maintaining an "overweight" rating. Royal Bank of Canada has given the stock a "sector perform" rating with a target of $20.00. Presently, six analysts have issued a hold rating, while two have recommended buying the stock. MarketBeat data shows an average rating of "Hold" and a consensus price target of $19.94.

About FS KKR Capital

FS KKR Capital Corp. is a business development company focused on investing in debt securities. It specializes in providing tailored credit solutions primarily to U.S. middle-market companies, investing chiefly in senior secured debt and, to a lesser extent, in subordinated debt.

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