AQR Capital Management LLC Lowers Stock Position in 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 trimmed its holdings in Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 19.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Deutsche Bank AG raised its position in shares of Seaboard by 37.0% in the fourth 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 last quarter. Covestor Ltd raised its position in shares of Seaboard by 19.5% in the first quarter. Covestor Ltd now owns 49 shares of the company's stock valued at $133,000 after buying an additional 8 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Seaboard in the first quarter valued at about $135,000. CWM LLC grew its holdings in shares of Seaboard by 44.7% in the first quarter. CWM LLC now owns 55 shares of the company's stock valued at $148,000 after purchasing an additional 17 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Seaboard by 257.1% in the fourth quarter. Lazard Asset Management LLC now owns 75 shares of the company's stock valued at $182,000 after purchasing an additional 54 shares during the period. 22.57% of the stock is currently owned by institutional investors and hedge funds.

Seaboard Trading Up 0.1%

Shares of SEB traded up $2.86 during mid-day trading on Monday, reaching $3,945.65. The stock had a trading volume of 96 shares, compared to its average volume of 2,067. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.40 and a quick ratio of 1.38. Seaboard Corporation has a 52-week low of $2,365.00 and a 52-week high of $4,038.54. The business's fifty day moving average is $3,462.10 and its 200 day moving average is $2,949.62. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 27.53 and a beta of 0.21.

Seaboard announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Seaboard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Friday, August 8th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 0.2%. Seaboard's dividend payout ratio is currently 9.93%.

About Seaboard

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.