FS KKR Capital Corp. (NYSE:FSK – Get Rating) declared a quarterly dividend on Tuesday, May 10th, Wall Street Journal reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 0.68 per share on Tuesday, July 5th. This represents a $2.72 annualized dividend and a dividend yield of 12.56%. The ex-dividend date is Tuesday, June 14th. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.63.
FS KKR Capital has decreased its dividend by an average of 10.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. FS KKR Capital has a dividend payout ratio of 100.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect FS KKR Capital to earn $2.57 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 98.1%.
FSK traded up $1.62 on Tuesday, reaching $21.66. 1,862,007 shares of the company traded hands, compared to its average volume of 1,429,837. The stock’s 50 day moving average price is $22.31 and its 200-day moving average price is $21.82. FS KKR Capital has a 52-week low of $19.71 and a 52-week high of $23.44. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 2.24 and a beta of 1.39. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.15 and a quick ratio of 3.15.
Several equities analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of FS KKR Capital from $21.50 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Zacks Investment Research lowered shares of FS KKR Capital from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd.
In other FS KKR Capital news, Director Brian R. Ford bought 2,500 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The stock was acquired at an average cost of $23.12 per share, with a total value of $57,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian Gerson bought 4,642 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of $22.60 per share, with a total value of $104,909.20. The disclosure for this purchase can be found here. Insiders purchased a total of 7,592 shares of company stock worth $172,528 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its stake in shares of FS KKR Capital by 4.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 44,831 shares of the company’s stock worth $939,000 after acquiring an additional 1,907 shares in the last quarter. Heritage Wealth Advisors grew its stake in shares of FS KKR Capital by 16.7% during the 4th quarter. Heritage Wealth Advisors now owns 17,961 shares of the company’s stock worth $376,000 after acquiring an additional 2,565 shares in the last quarter. Stifel Financial Corp grew its stake in shares of FS KKR Capital by 29.1% during the 4th quarter. Stifel Financial Corp now owns 12,347 shares of the company’s stock worth $258,000 after acquiring an additional 2,785 shares in the last quarter. First Community Trust NA bought a new position in shares of FS KKR Capital during the 4th quarter worth approximately $94,000. Finally, Wells Fargo & Company MN grew its stake in shares of FS KKR Capital by 13.7% during the 4th quarter. Wells Fargo & Company MN now owns 62,424 shares of the company’s stock worth $1,307,000 after acquiring an additional 7,515 shares in the last quarter. 41.91% of the stock is owned by institutional investors and hedge funds.
FS KKR Capital Company Profile (Get Rating)
FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S. companies. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments.
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