AQR Capital Management LLC Sells 1,466 Shares of Seaboard Corporation $SEB

Key Points

• AQR Capital Management LLC has reduced its holdings in Seaboard Corporation by 19.3%, selling 1,466 shares recently, leaving them with a total of 6,132 shares valued at approximately $16.5 million.
• Seaboard announced a $100 million share buyback program, indicating that the board believes the company's stock is undervalued, and has also declared a quarterly dividend of $2.25 per share.
• Shares of Seaboard Corporation traded at $3,901.00 with a 1-year high of $4,038.54, reflecting a market capitalization of $3.74 billion and a P/E ratio of 27.22.

AQR Capital Management LLC reduced its position in Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 19.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,132 shares of the company's stock after selling 1,466 shares during the period. AQR Capital Management LLC owned 0.63% of Seaboard worth $16,539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SEB. Deutsche Bank AG increased its stake in shares of Seaboard by 37.0% in the 4th quarter. Deutsche Bank AG now owns 37 shares of the company's stock valued at $90,000 after buying an additional 10 shares during the period. Covestor Ltd increased its stake in shares of Seaboard by 19.5% in the 1st quarter. Covestor Ltd now owns 49 shares of the company's stock valued at $133,000 after buying an additional 8 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Seaboard in the 1st quarter valued at $135,000. CWM LLC increased its stake in shares of Seaboard by 44.7% in the 1st quarter. CWM LLC now owns 55 shares of the company's stock valued at $148,000 after buying an additional 17 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Seaboard by 257.1% in the 4th quarter. Lazard Asset Management LLC now owns 75 shares of the company's stock valued at $182,000 after buying an additional 54 shares during the period. 22.57% of the stock is owned by institutional investors and hedge funds.

Seaboard Trading Down 1.5%

Shares of NYSEAMERICAN:SEB traded down $58.50 during midday trading on Monday, hitting $3,884.29. The company had a trading volume of 2,245 shares, compared to its average volume of 1,987. Seaboard Corporation has a 12 month low of $2,365.00 and a 12 month high of $4,038.54. The company has a current ratio of 2.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 27.10 and a beta of 0.21. The firm has a fifty day simple moving average of $3,479.53 and a 200 day simple moving average of $2,956.40.

Seaboard declared that its board has initiated a stock buyback program on Wednesday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Seaboard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Friday, August 8th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, August 8th. Seaboard's dividend payout ratio (DPR) is currently 9.93%.

Seaboard Profile

Seaboard Corporation, together with its subsidiaries, operates as an agricultural and ocean transportation company worldwide. It operates through six segments: Pork, Commodity Trading and Milling (CT&M), Marine, Sugar and Alcohol, Power, and Turkey. The Pork segment produces and sells pork products to further processors, food service operators, grocery stores, and distributors; hogs; and biodiesel.