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

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

Separately, TheStreet downgraded AMCON Distributing from a b- rating to a c rating in a report on Thursday, January 18th.

AMCON Distributing Trading Down 3.4 %

NYSEAMERICAN:DIT opened at $157.90 on Friday. The firm has a market capitalization of $99.48 million, a price-to-earnings ratio of 11.54 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.50 and a quick ratio of 1.02. AMCON Distributing has a 1 year low of $135.70 and a 1 year high of $249.99.

AMCON Distributing (NYSEAMERICAN:DIT) last posted its quarterly earnings data on Thursday, April 18th. The company reported $0.89 EPS for the quarter. AMCON Distributing had a return on equity of 8.11% and a net margin of 0.32%. The business had revenue of $601.88 million for the quarter.

AMCON Distributing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be given a $0.18 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.72 annualized dividend and a dividend yield of 0.46%. AMCON Distributing’s payout ratio is 5.08%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMCON Distributing stock. CM Management LLC boosted its stake in shares of AMCON Distributing (NYSEAMERICAN:DIT) by 20.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,240 shares of the company’s stock after purchasing an additional 1,240 shares during the quarter. AMCON Distributing makes up approximately 1.5% of CM Management LLC’s holdings, making the stock its 22nd largest position. CM Management LLC owned approximately 1.19% of AMCON Distributing worth $1,491,000 at the end of the most recent reporting period. 11.14% of the stock is owned by hedge funds and other institutional investors.

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.