FS KKR Capital Corp. (FSK) to Issue Quarterly Dividend of $0.06 on October 3rd

FS KKR Capital Corp. (NYSE:FSK) announced a quarterly dividend on Thursday, August 3rd, NASDAQ reports. Stockholders of record on Wednesday, September 13th will be paid a dividend of 0.06 per share on Tuesday, October 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Tuesday, September 12th.

FS KKR Capital has decreased its dividend payment by an average of 5.1% annually over the last three years. FS KKR Capital has a dividend payout ratio of 94.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect FS KKR Capital to earn $3.02 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 92.7%.

FS KKR Capital Price Performance

Shares of FS KKR Capital stock opened at $20.63 on Friday. FS KKR Capital has a 52-week low of $16.70 and a 52-week high of $21.87. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 20.43 and a beta of 1.38. The company has a fifty day moving average of $20.01 and a 200-day moving average of $19.26. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.69 and a current ratio of 1.69.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $462.00 million during the quarter, compared to analysts’ expectations of $449.67 million. FS KKR Capital had a net margin of 15.80% and a return on equity of 12.43%. During the same quarter in the prior year, the company posted $0.67 EPS. Equities research analysts expect that FS KKR Capital will post 3.08 EPS for the current year.

Insider Buying and Selling

In other FS KKR Capital news, insider Daniel Pietrzak purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $20.12 per share, for a total transaction of $100,600.00. Following the purchase, the insider now directly owns 32,500 shares in the company, valued at $653,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brian Gerson acquired 2,000 shares of FS KKR Capital stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $20.36 per share, for a total transaction of $40,720.00. Following the purchase, the insider now owns 10,109 shares in the company, valued at $205,819.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Pietrzak acquired 5,000 shares of FS KKR Capital stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $20.12 per share, with a total value of $100,600.00. Following the completion of the purchase, the insider now owns 32,500 shares in the company, valued at approximately $653,900. The disclosure for this purchase can be found here. Insiders acquired a total of 8,750 shares of company stock worth $176,923 in the last three months. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of FS KKR Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley increased its stake in FS KKR Capital by 10.6% during the 4th quarter. Morgan Stanley now owns 2,513,899 shares of the company’s stock valued at $43,993,000 after purchasing an additional 240,344 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of FS KKR Capital by 9.6% during the 4th quarter. Legal & General Group Plc now owns 2,103,232 shares of the company’s stock valued at $36,817,000 after acquiring an additional 184,897 shares during the last quarter. Ares Management LLC boosted its holdings in shares of FS KKR Capital by 11.7% during the 1st quarter. Ares Management LLC now owns 1,710,937 shares of the company’s stock valued at $39,044,000 after acquiring an additional 178,532 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of FS KKR Capital by 2.3% during the 1st quarter. 1832 Asset Management L.P. now owns 1,561,596 shares of the company’s stock valued at $35,146,000 after acquiring an additional 35,299 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of FS KKR Capital by 10.6% during the 1st quarter. BlackRock Inc. now owns 1,287,986 shares of the company’s stock valued at $23,828,000 after acquiring an additional 123,408 shares during the last quarter. 33.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. B. Riley assumed coverage on shares of FS KKR Capital in a report on Thursday, July 27th. They issued a “buy” rating and a $21.00 price objective for the company. They noted that the move was a valuation call. TheStreet lowered shares of FS KKR Capital from a “b-” rating to a “c” rating in a report on Thursday, August 10th. Finally, Oppenheimer upped their price objective on shares of FS KKR Capital from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.92.

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.