Van ECK Associates Corp Increases Stake in FS KKR Capital Corp

Van ECK Associates Corp has recently upped its investment in FS KKR Capital Corp. (NYSE:FSK) by 6.6% during the third quarter of the year, according to a filing with the SEC. After acquiring an additional 356,704 shares, the institutional investor now owns a total of 5,747,770 shares in the company. This latest holding is valued at approximately $117,886,000, accounting for 2.05% of FS KKR Capital's total market.

Institutional Investment Trends

Other institutional investors and hedge funds have also been active in buying and selling shares of FS KKR Capital recently. For instance, Norden Group LLC made a new investment in the company during the first quarter, spending around $1,362,000. Similarly, Diversify Advisory Services LLC acquired shares valued at roughly $662,000. Janney Montgomery Scott LLC increased its stake by 30% in the same period and now holds 64,859 shares valued at $1,237,000 after acquiring an additional 14,977 shares. Other firms such as Choreo LLC and BI Asset Management Fondsmaeglerselskab A S also raised their positions in the stock, contributing to the growing interest from institutional investors. Presently, institutional investors and hedge funds collectively hold about 36.26% of FS KKR Capital's shares.

Insider Activities

In recent insider transactions, FS KKR Capital's CEO, Michael C. Forman, sold 195,139 shares on August 15th at an average price of $19.56, resulting in a total transaction value of $3,816,918.84. This sale has been documented in a legal filing with the SEC. Additionally, another insider, Daniel Pietrzak, bought 5,000 shares on August 8th at an average cost of $19.21 per share, totaling about $96,050. Following this purchase, Pietrzak holds 44,800 shares, valued at approximately $860,608. Currently, company insiders own about 0.25% of the stock.

Market Performance of FS KKR Capital

The shares of FS KKR Capital experienced a slight decline of 0.5%, dropping to $20.14 on the last trading day, with a total trading volume of 1,241,255 shares. The company's market capitalization is approximately $5.64 billion, with a P/E ratio of 8.91 and a beta of 1.25. FS KKR Capital's quick ratio and current ratio both stand at 2.34, while its debt-to-equity ratio is 1.19. Over the past year, the stock reached a low of $18.31 and a high of $20.99.

Recent Earnings Report

On August 6th, FS KKR Capital released its latest earnings results, reporting an earnings per share (EPS) of $0.75, which surpassed analysts' expectations of $0.71 by $0.04. The company achieved a 12.39% return on equity and a net margin of 35.46%, with reported revenues of $439.00 million, exceeding the expected $426.41 million. For the current year, analysts predict that FS KKR Capital will post an EPS of 2.86.

Dividend Increase Announcement

FS KKR Capital has recently announced a planned dividend that will be paid out on December 18th. Shareholders who are on record by December 4th will receive a dividend of $0.70 per share, an increase from the previous dividend of $0.64. This offers a yield of 12.7%, although the dividend payout ratio currently stands at 113.27%.

Analyst Opinions on FS KKR Capital

Several financial analysts have shared their insights regarding FS KKR Capital. Wells Fargo lowered its price target from $21.00 to $20.00 while maintaining an "overweight" rating. Royal Bank of Canada has reaffirmed a "sector perform" rating alongside a price target of $20.00. As it stands, six analysts have recommended holding the stock, while two have rated it as a buy. According to MarketBeat.com, FS KKR Capital has an average rating of "Hold" with a consensus target price of $19.94.

About FS KKR Capital Corp.

FS KKR Capital Corp. is a leading business development company that focuses on investing in debt securities. The firm primarily offers customized credit solutions to private middle-market companies in the United States, specializing in senior secured debt as well as subordinated debt.

investment, stocks, dividends