Ignite Planners LLC Sells 2,944 Shares of FS KKR Capital Corp. (NYSE:FSK)

Ignite Planners LLC lessened its position in shares of FS KKR Capital Corp. (NYSE:FSK) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,206 shares of the company’s stock after selling 2,944 shares during the period. Ignite Planners LLC’s holdings in FS KKR Capital were worth $705,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FSK. Wescott Financial Advisory Group LLC lifted its position in FS KKR Capital by 3.2% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 16,200 shares of the company’s stock worth $324,000 after acquiring an additional 509 shares during the last quarter. Legacy Capital Group California Inc. lifted its position in FS KKR Capital by 0.3% during the fourth quarter. Legacy Capital Group California Inc. now owns 175,997 shares of the company’s stock worth $3,515,000 after acquiring an additional 512 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in FS KKR Capital by 20.8% during the third quarter. Raleigh Capital Management Inc. now owns 3,337 shares of the company’s stock worth $66,000 after acquiring an additional 575 shares during the last quarter. IFG Advisory LLC lifted its position in FS KKR Capital by 0.7% during the fourth quarter. IFG Advisory LLC now owns 88,292 shares of the company’s stock worth $1,763,000 after acquiring an additional 633 shares during the last quarter. Finally, AlphaStar Capital Management LLC lifted its position in FS KKR Capital by 3.3% during the fourth quarter. AlphaStar Capital Management LLC now owns 22,447 shares of the company’s stock worth $448,000 after acquiring an additional 712 shares during the last quarter. Institutional investors own 36.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on FSK shares. Compass Point downgraded shares of FS KKR Capital from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $21.50 to $19.50 in a research report on Tuesday, February 27th. Truist Financial lowered their target price on shares of FS KKR Capital from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, February 28th. Hovde Group reaffirmed a “market perform” rating and set a $20.00 target price on shares of FS KKR Capital in a report on Wednesday, February 28th. B. Riley reaffirmed a “buy” rating and set a $21.00 target price (up from $20.00) on shares of FS KKR Capital in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of FS KKR Capital from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.28.

Insiders Place Their Bets

In other news, Director Barbara Adams acquired 3,381 shares of FS KKR Capital stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $20.10 per share, with a total value of $67,958.10. Following the transaction, the director now owns 22,082 shares of the company’s stock, valued at approximately $443,848.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

FS KKR Capital Trading Up 1.4 %

FSK opened at $19.67 on Tuesday. FS KKR Capital Corp. has a 1-year low of $18.31 and a 1-year high of $20.99. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 1.16. The company has a market cap of $5.51 billion, a P/E ratio of 8.20 and a beta of 1.24. The company has a fifty day moving average price of $19.77 and a two-hundred day moving average price of $19.75.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $434.00 million during the quarter, compared to the consensus estimate of $429.46 million. FS KKR Capital had a net margin of 37.06% and a return on equity of 12.42%. Analysts predict that FS KKR Capital Corp. will post 2.83 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Wednesday, June 12th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 14.23%. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, June 12th. FS KKR Capital’s dividend payout ratio is presently 106.67%.

FS KKR Capital Profile

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.