StockNews.com Initiates Coverage on AMCON Distributing (NYSEAMERICAN:DIT)

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

AMCON Distributing Stock Up 0.5 %

Shares of NYSEAMERICAN:DIT opened at $128.61 on Thursday. The company has a quick ratio of 0.91, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $83.60 million, a PE ratio of 17.94 and a beta of 0.57. AMCON Distributing has a twelve month low of $118.25 and a twelve month high of $209.44.

AMCON Distributing Dividend Announcement

The company also recently declared a special dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, December 30th. AMCON Distributing’s dividend payout ratio (DPR) is presently 10.04%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMCON Distributing stock. Empowered Funds LLC raised its stake in AMCON Distributing (NYSEAMERICAN:DIT) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,756 shares of the company’s stock after buying an additional 134 shares during the period. Empowered Funds LLC owned approximately 0.44% of AMCON Distributing worth $399,000 as of its most recent filing with the SEC. 11.14% of the stock is owned by institutional investors and hedge funds.

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.