Elizabeth Sandler, a director at FS KKR Capital Corp (NYSE:FSK), recently acquired 1,000 shares of the company’s common stock. The purchase took place on December 4, 2024, at a price of $21.23 per share, totaling $21,230. Following this transaction, Sandler holds a total of 7,700 shares through an IRA account. This acquisition reflects a direct increase in her holdings with the company. InvestingPro analysis shows FSK maintains strong financial health with a "GREAT" overall score, having sustained dividend payments for 11 consecutive years. For deeper insights into FSK's valuation and comprehensive analysis, including additional ProTips and detailed metrics, check out the full Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, FS KKR Capital Corp reported robust third-quarter earnings, exceeding expectations with a net investment income of $0.77 per share and an adjusted net investment income of $0.74 per share. Despite a slight decrease in the net asset value per share from $23.95 to $23.82, the company anticipates a GAAP net investment income of about $0.63 per share for the fourth quarter.
Meanwhile, Wells Fargo (NYSE:WFC) has downgraded FS KKR's stock from Overweight to Equal Weight, citing concerns about the company's valuation and credit risk. This decision was influenced by a reduced upside potential for the stock, now trading at 0.93 times its net asset value.
On the other hand, RBC Capital Markets maintained a Sector Perform rating on FS KKR Capital, while raising the price target to $21 from $20. The analyst from RBC Capital noted that FS KKR Capital has been actively reducing non-accruals within its portfolio, which is seen as a positive sign.
In addition, FS KKR Capital Corp has secured a $600 million underwriting agreement for the issuance and sale of notes, due to mature in 2030, with a consortium of underwriters led by BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, KKR Capital Markets LLC, SMBC Nikko Securities America, Inc., and Truist Securities, Inc. The capital raised is expected to be used for general corporate purposes.
These are some of the recent developments in FS KKR Capital Corp's operations and performance.
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