FS KKR Capital (NYSE:FSK) Sees Unusually-High Trading Volume

Shares of FS KKR Capital Corp. (NYSE:FSK) saw an uptick in trading volume on Wednesday . 1,520,624 shares were traded during trading, a decline of 2% from the previous session’s volume of 1,554,082 shares.The stock last traded at $20.16 and had previously closed at $19.97.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FSK shares. Wells Fargo & Company upgraded shares of FS KKR Capital from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $21.00 in a research note on Wednesday, May 29th. B. Riley reissued a “buy” rating and issued a $21.00 price objective (up previously from $20.00) on shares of FS KKR Capital in a research report on Friday, May 10th. Keefe, Bruyette & Woods reduced their target price on FS KKR Capital from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on FS KKR Capital from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.28.

FS KKR Capital Price Performance

The firm has a 50-day simple moving average of $19.84 and a two-hundred day simple moving average of $19.74. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 8.32 and a beta of 1.26. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 1.16.

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

FS KKR Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th were given a dividend of $0.70 per share. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.90%. FS KKR Capital’s dividend payout ratio (DPR) is 106.67%.

Insider Transactions at FS KKR Capital

In other news, Director Barbara Adams purchased 3,381 shares of the stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $20.10 per share, with a total value of $67,958.10. Following the transaction, the director now owns 22,082 shares in the company, valued at approximately $443,848.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FSK. Mather Group LLC. purchased a new stake in FS KKR Capital in the first quarter valued at approximately $39,000. Planned Solutions Inc. acquired a new stake in shares of FS KKR Capital in the fourth quarter valued at $40,000. Citigroup Inc. raised its holdings in shares of FS KKR Capital by 587.2% in the 3rd quarter. Citigroup Inc. now owns 2,474 shares of the company’s stock valued at $49,000 after buying an additional 2,114 shares during the period. Raleigh Capital Management Inc. lifted its stake in FS KKR Capital by 20.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 3,337 shares of the company’s stock worth $66,000 after acquiring an additional 575 shares in the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in FS KKR Capital during the 3rd quarter valued at about $69,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

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.