AMCON Distributing (NYSEAMERICAN:DIT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of AMCON Distributing (NYSEAMERICAN:DIT) in a research note released on Friday. The brokerage issued a hold rating on the stock.

AMCON Distributing Trading Up 2.0 %

Shares of DIT stock opened at $140.00 on Friday. AMCON Distributing has a 12 month low of $119.34 and a 12 month high of $209.50. The firm has a market capitalization of $88.20 million, a price-to-earnings ratio of 13.96 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 data on Thursday, July 18th. The company reported $2.46 earnings per share (EPS) for the quarter. The firm had revenue of $717.85 million for the quarter. AMCON Distributing had a return on equity of 5.65% and a net margin of 0.23%.

AMCON Distributing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Friday, August 2nd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, August 2nd. AMCON Distributing’s dividend payout ratio (DPR) is presently 7.18%.

Institutional Investors Weigh In On AMCON Distributing

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC boosted its holdings in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,442 shares of the company’s stock after buying an additional 175 shares during the period. Empowered Funds LLC owned approximately 0.39% of AMCON Distributing worth $449,000 as of its most recent filing with the Securities and Exchange Commission. 11.14% of the stock is owned by institutional investors and hedge funds.

AMCON Distributing Company Profile

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.