AMCON Distributing (NYSEAMERICAN:DIT) Share Price Passes Below 200 Day Moving Average - Time to Sell?

Key Points

• AMCON Distributing shares fell below their 200-day moving average, trading as low as $64.78 and last changing hands at $62.19, versus a 200-day average of $76.24.
• The company reported quarterly revenue of $835.34 million and earnings of $2.85 per share, but profitability remained thin, with a 0.06% net margin and 1.58% return on equity.
• AMCON declared a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 payout and a 0.8% yield; institutional investors own 11.14% of the stock.

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $76.24 and traded as low as $64.78. AMCON Distributing shares last traded at $62.19, with a volume of 287 shares.

AMCON Distributing Stock Performance

The stock has a market cap of $60.95 million, a PE ratio of 32.79 and a beta of -0.20. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.75 and a quick ratio of 1.05. The stock has a 50-day simple moving average of $67.49 and a 200-day simple moving average of $76.24.

AMCON Distributing (NYSEAMERICAN:DIT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.85 EPS for the quarter. AMCON Distributing had a return on equity of 1.58% and a net margin of 0.06%.The company had revenue of $835.34 million for the quarter.

AMCON Distributing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 7th. AMCON Distributing's payout ratio is 6.69%.

Hedge Funds Weigh In On AMCON Distributing

A number of hedge funds have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of AMCON Distributing by 59.2% during the 1st quarter. Empowered Funds LLC now owns 4,789 shares of the company's stock valued at $426,000 after acquiring an additional 1,781 shares in the last quarter. Renaissance Technologies LLC increased its holdings in AMCON Distributing by 50.0% in the 1st quarter. Renaissance Technologies LLC now owns 14,001 shares of the company's stock valued at $1,260,000 after purchasing an additional 4,666 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in AMCON Distributing by 49.0% in the first quarter. Dimensional Fund Advisors LP now owns 31,583 shares of the company's stock valued at $2,842,000 after purchasing an additional 10,393 shares during the period. Hedge funds and other institutional investors own 11.14% of the company's stock.

About AMCON Distributing

AMCON Distributing Company is a wholesale distributor of consumer products in the United States. The company supplies convenience stores, independent retailers, supermarkets, discount stores, drugstores, tobacco shops, and other retail businesses with a broad range of products.

Its wholesale product portfolio includes cigarettes and other tobacco products, candy, snacks, beverages, groceries, paper products, health and beauty care items, and general merchandise. AMCON serves retail customers primarily across the Midwest, Great Plains, and Southeastern United States through its distribution operations.

In addition to its wholesale business, AMCON operates natural and organic food stores through retail banners that have included Chamberlin's Natural Foods, Akin's Natural Foods, and Earth Origins Market.

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