FS KKR Capital (NYSE:FSK) Sets New 12-Month High on Earnings Beat

FS KKR Capital Corp. (NYSE:FSK)’s stock price hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $21.07 and last traded at $21.07, with a volume of 240463 shares trading hands. The stock had previously closed at $20.81.

The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. FS KKR Capital had a net margin of 35.46% and a return on equity of 12.39%. During the same quarter last year, the company posted $0.80 earnings per share.

FS KKR Capital Increases Dividend

The business also recently declared a None dividend, which will be paid on Wednesday, December 18th. Stockholders 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 represents a dividend yield of 12.7%. This is a positive change from FS KKR Capital’s previous None dividend of $0.64. FS KKR Capital’s dividend payout ratio (DPR) is presently 113.27%.

Analyst Ratings Changes

FSK has been the subject of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $20.00 price objective on shares of FS KKR Capital in a report on Wednesday, August 14th. Wells Fargo & Company cut 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 report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, FS KKR Capital has an average rating of “Hold” and an average target price of $19.94.

Insider Transactions at FS KKR Capital

In related news, CEO Michael C. Forman sold 195,139 shares of FS KKR Capital stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.56, for a total value of $3,816,918.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FS KKR Capital

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of FS KKR Capital by 1,967.7% during the third quarter. International Assets Investment Management LLC now owns 3,165,817 shares of the company’s stock valued at $62,462,000 after buying an additional 3,012,711 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of FS KKR Capital during the second quarter valued at about $19,544,000. Cetera Investment Advisers increased its position in shares of FS KKR Capital by 368.3% during the first quarter. Cetera Investment Advisers now owns 886,811 shares of the company’s stock valued at $16,911,000 after buying an additional 697,453 shares during the period. Maia Wealth LLC bought a new stake in FS KKR Capital during the second quarter worth about $10,560,000. Finally, 1832 Asset Management L.P. boosted its stake in FS KKR Capital by 529.7% during the first quarter. 1832 Asset Management L.P. now owns 610,140 shares of the company’s stock worth $11,635,000 after acquiring an additional 513,239 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Price Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.34. The firm’s 50 day moving average is $20.09 and its 200 day moving average is $19.94. The firm has a market cap of $5.86 billion, a P/E ratio of 9.21 and a beta of 1.25.

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.