Meridian Wealth Management LLC Makes New Investment in FS KKR Capital Corp. (NYSE:FSK)

Meridian Wealth Management LLC purchased a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 20,481 shares of the company’s stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FSK. Fountainhead AM LLC raised its stake in FS KKR Capital by 9.8% during the 3rd quarter. Fountainhead AM LLC now owns 800,731 shares of the company’s stock valued at $15,798,000 after acquiring an additional 71,644 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of FS KKR Capital by 39.3% during the first quarter. Cetera Advisors LLC now owns 431,625 shares of the company’s stock valued at $8,231,000 after purchasing an additional 121,754 shares in the last quarter. Waverly Advisors LLC acquired a new stake in FS KKR Capital in the first quarter worth about $2,473,000. Wealth Enhancement Advisory Services LLC grew its position in FS KKR Capital by 30.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 122,769 shares of the company’s stock valued at $2,422,000 after buying an additional 28,889 shares in the last quarter. Finally, Naviter Wealth LLC increased its stake in FS KKR Capital by 83.9% during the 2nd quarter. Naviter Wealth LLC now owns 241,489 shares of the company’s stock valued at $4,916,000 after buying an additional 110,191 shares during the period. 36.26% of the stock is currently owned by institutional investors and hedge funds.

FS KKR Capital Trading Up 1.1 %

Shares of NYSE:FSK opened at $21.77 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. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.58 and a beta of 1.25. FS KKR Capital Corp. has a 1-year low of $18.31 and a 1-year high of $21.79. The company has a 50 day moving average price of $20.40 and a 200 day moving average price of $20.10.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The business had revenue of $441.00 million during the quarter, compared to analyst estimates of $423.58 million. FS KKR Capital had a return on equity of 12.31% and a net margin of 29.98%. During the same period last year, the company posted $0.80 EPS. On average, research analysts anticipate that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, December 4th. This is a positive change from FS KKR Capital’s previous None dividend of $0.64. This represents a yield of 12.7%. FS KKR Capital’s dividend payout ratio is currently 136.17%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FSK. Wells Fargo & Company reduced their price target on shares of FS KKR Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada upped their target price on FS KKR Capital from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.06.

FS KKR Capital Company 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.