Castle Rock Wealth Management LLC Has $597,000 Stock Position in FS KKR Capital Corp. (NYSE:FSK)

Castle Rock Wealth Management LLC cut its holdings in FS KKR Capital Corp. (NYSE:FSK) by 61.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,780 shares of the company’s stock after selling 47,166 shares during the period. Castle Rock Wealth Management LLC’s holdings in FS KKR Capital were worth $597,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Van ECK Associates Corp increased its holdings in FS KKR Capital by 26.9% in the 1st quarter. Van ECK Associates Corp now owns 6,603,828 shares of the company’s stock valued at $125,935,000 after buying an additional 1,398,998 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of FS KKR Capital in the 2nd quarter valued at $19,544,000. Cetera Investment Advisers increased its stake in shares of FS KKR Capital by 368.3% in the 1st quarter. Cetera Investment Advisers now owns 886,811 shares of the company’s stock valued at $16,911,000 after purchasing an additional 697,453 shares during the last quarter. Maia Wealth LLC acquired a new position in shares of FS KKR Capital during the 2nd quarter worth $10,560,000. Finally, 1832 Asset Management L.P. lifted its position in shares of FS KKR Capital by 529.7% during the 1st quarter. 1832 Asset Management L.P. now owns 610,140 shares of the company’s stock worth $11,635,000 after buying an additional 513,239 shares during the last quarter. 36.26% of the stock is owned by institutional investors.

FS KKR Capital Stock Performance

Shares of FSK opened at $20.17 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $5.65 billion, a P/E ratio of 8.92 and a beta of 1.25. The firm’s fifty day simple moving average is $19.74 and its two-hundred day simple moving average is $19.75. FS KKR Capital Corp. has a 12 month low of $18.31 and a 12 month high of $20.99.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $426.41 million. FS KKR Capital had a net margin of 35.46% and a return on equity of 12.39%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. As a group, analysts predict that FS KKR Capital Corp. will post 2.86 EPS for the current year.

FS KKR Capital Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, December 4th. This represents a dividend yield of 12.7%. This is a positive change from FS KKR Capital’s previous None dividend of $0.64. FS KKR Capital’s dividend payout ratio is currently 113.27%.

Insider Activity

In other news, CEO Michael C. Forman sold 195,139 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.56, for a total transaction of $3,816,918.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other FS KKR Capital news, insider Daniel Pietrzak bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $19.21 per share, for a total transaction of $96,050.00. Following the acquisition, the insider now directly owns 44,800 shares of the company’s stock, valued at approximately $860,608. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael C. Forman sold 195,139 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.56, for a total transaction of $3,816,918.84. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $20.00 target price on shares of FS KKR Capital in a report on Wednesday, August 14th. Wells Fargo & Company cut their price objective on FS KKR Capital from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, FS KKR Capital presently has a consensus rating of “Hold” and a consensus target price of $20.06.

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.