Franklin Resources Inc. Increases Stake in FS KKR Capital Corp. (NYSE:FSK)

Franklin Resources Inc. raised its stake in FS KKR Capital Corp. (NYSE:FSK) by 14.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 360,256 shares of the company’s stock after acquiring an additional 44,557 shares during the period. Franklin Resources Inc.’s holdings in FS KKR Capital were worth $7,284,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in FS KKR Capital during the 2nd quarter valued at $30,000. Ridgewood Investments LLC bought a new position in shares of FS KKR Capital during the second quarter valued at about $37,000. Rothschild Investment LLC purchased a new stake in shares of FS KKR Capital during the second quarter worth about $39,000. McIlrath & Eck LLC grew its stake in shares of FS KKR Capital by 47.5% in the third quarter. McIlrath & Eck LLC now owns 2,096 shares of the company’s stock worth $41,000 after purchasing an additional 675 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. increased its holdings in FS KKR Capital by 198.7% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 2,136 shares of the company’s stock valued at $42,000 after purchasing an additional 1,421 shares during the period. Hedge funds and other institutional investors own 36.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Daniel Pietrzak bought 5,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $21.31 per share, with a total value of $106,550.00. Following the completion of the acquisition, the insider now owns 49,800 shares of the company’s stock, valued at approximately $1,061,238. This represents a 11.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 11,500 shares of company stock valued at $248,910. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FSK has been the subject of several research analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $21.00 price objective on shares of FS KKR Capital in a report on Monday, December 2nd. B. Riley lowered FS KKR Capital from a “buy” rating to a “neutral” rating and set a $21.50 price target for the company. in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada boosted their price objective on shares of FS KKR Capital from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.25.

FS KKR Capital Stock Up 0.3 %

Shares of FS KKR Capital stock opened at $21.29 on Monday. FS KKR Capital Corp. has a 1 year low of $18.31 and a 1 year high of $22.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.96 and a quick ratio of 2.96. The company has a 50-day moving average of $21.10 and a 200 day moving average of $20.31. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 11.32 and a beta of 1.25.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. The business had revenue of $441.00 million during the quarter, compared to the consensus estimate of $423.58 million. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, sell-side analysts anticipate that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently announced a None dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a $0.70 dividend. This represents a yield of 12.7%. This is an increase from FS KKR Capital’s previous None dividend of $0.64. The ex-dividend date of this dividend was Wednesday, December 4th. FS KKR Capital’s payout ratio is 136.17%.

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.