Drive Wealth Management LLC Sells 138,372 Shares of FS KKR Capital Corp. (NYSE:FSK)

Drive Wealth Management LLC trimmed its position in FS KKR Capital Corp. (NYSE:FSK) by 63.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,416 shares of the company’s stock after selling 138,372 shares during the period. Drive Wealth Management LLC’s holdings in FS KKR Capital were worth $1,661,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Intellectus Partners LLC grew its holdings in shares of FS KKR Capital by 103.9% during the third quarter. Intellectus Partners LLC now owns 87,434 shares of the company’s stock worth $1,758,000 after purchasing an additional 44,546 shares in the last quarter. Proactive Wealth Strategies LLC bought a new stake in FS KKR Capital during the third quarter valued at approximately $1,027,000. First National Trust Co lifted its position in FS KKR Capital by 108.7% during the third quarter. First National Trust Co now owns 96,636 shares of the company’s stock valued at $1,907,000 after purchasing an additional 50,327 shares during the last quarter. Fountainhead AM LLC grew its stake in FS KKR Capital by 9.8% in the 3rd quarter. Fountainhead AM LLC now owns 800,731 shares of the company’s stock worth $15,798,000 after buying an additional 71,644 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of FS KKR Capital by 11.0% in the 3rd quarter. Sigma Planning Corp now owns 193,681 shares of the company’s stock worth $3,821,000 after buying an additional 19,210 shares during the last quarter. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

FS KKR Capital Stock Performance

NYSE:FSK opened at $21.16 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.96 and a current ratio of 2.96. FS KKR Capital Corp. has a fifty-two week low of $18.31 and a fifty-two week high of $21.30. The firm has a market cap of $5.93 billion, a PE ratio of 11.26 and a beta of 1.25. The business has a 50 day moving average price of $20.21 and a 200-day moving average price of $20.02.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $441.00 million for the quarter, compared to analysts’ expectations of $423.58 million. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. During the same quarter in the previous year, the company earned $0.80 earnings per share. Equities research analysts predict that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Increases Dividend

The business also recently declared a None dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a yield of 12.7%. This is a boost from FS KKR Capital’s previous None dividend of $0.64. FS KKR Capital’s payout ratio is 136.17%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FSK shares. Wells Fargo & Company cut their target price on shares of FS KKR Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $20.00 price objective on shares of FS KKR Capital in a research report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.94.

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.