AMCON Distributing (NYSEAMERICAN:DIT) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a report published on Wednesday. The brokerage issued a hold rating on the stock.

AMCON Distributing Stock Up 4.9 %

Shares of NYSEAMERICAN DIT opened at $144.00 on Wednesday. AMCON Distributing has a fifty-two week low of $119.34 and a fifty-two week high of $210.53. The stock has a market capitalization of $90.72 million, a P/E ratio of 10.17 and a beta of 0.51. The company has a current ratio of 3.05, a quick ratio of 1.15 and a debt-to-equity ratio of 1.59.

AMCON Distributing (NYSEAMERICAN:DIT) last announced its quarterly earnings results on Thursday, July 18th. The company reported $2.46 earnings per share for the quarter. AMCON Distributing had a net margin of 0.23% and a return on equity of 5.65%. The business had revenue of $717.85 million for the quarter.

AMCON Distributing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, August 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.72 annualized dividend and a dividend yield of 0.50%. AMCON Distributing’s dividend payout ratio is currently 5.08%.

Hedge Funds Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC lifted its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,442 shares of the company’s stock after purchasing an additional 175 shares during the period. Empowered Funds LLC owned 0.39% of AMCON Distributing worth $449,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.14% of the company’s stock.

About AMCON Distributing

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.