FS KKR Capital (NYSE:FSK) Hits New 52-Week High on Analyst Upgrade

FS KKR Capital Corp. (NYSE:FSK) reached a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $20.00 to $21.00. Royal Bank of Canada currently has a sector perform rating on the stock. FS KKR Capital traded as high as $21.36 and last traded at $21.35, with a volume of 217038 shares. The stock had previously closed at $21.24.

Separately, Wells Fargo & Company lowered their target price on FS KKR Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.06.

Institutional Trading of FS KKR Capital

Several hedge funds and other institutional investors have recently bought and sold shares of FSK. Van ECK Associates Corp increased its stake in shares of FS KKR Capital by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 5,747,770 shares of the company’s stock valued at $117,886,000 after acquiring an additional 356,704 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of FS KKR Capital by 4.6% during the third quarter. Commonwealth Equity Services LLC now owns 4,282,146 shares of the company’s stock worth $84,487,000 after buying an additional 188,542 shares in the last quarter. LPL Financial LLC increased its position in shares of FS KKR Capital by 1.8% in the 2nd quarter. LPL Financial LLC now owns 3,352,328 shares of the company’s stock worth $66,141,000 after purchasing an additional 59,240 shares during the last quarter. International Assets Investment Management LLC raised its stake in 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 in the last quarter. Finally, Kestra Advisory Services LLC raised its position in shares of FS KKR Capital by 21.0% during the 1st quarter. Kestra Advisory Services LLC now owns 1,218,960 shares of the company’s stock valued at $23,411,000 after acquiring an additional 211,961 shares in the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

FS KKR Capital Stock Performance

The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.21. The stock’s 50-day moving average price is $20.21 and its 200-day moving average price is $20.03. The company has a market capitalization of $5.99 billion, a P/E ratio of 11.31 and a beta of 1.25.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. The company had revenue of $441.00 million during the quarter, compared to the consensus estimate of $423.58 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, equities analysts expect that FS KKR Capital Corp. will post 2.89 EPS for the current year.

FS KKR Capital Increases Dividend

The firm 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 $0.70 dividend. This is a boost from FS KKR Capital’s previous None dividend of $0.64. The ex-dividend date is Wednesday, December 4th. This represents a dividend yield of 12.7%. FS KKR Capital’s dividend payout ratio is presently 136.17%.

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.