Charles Schwab Investment Management Inc. Purchases 1,324 Shares of Seaboard Corporation $SEB

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Seaboard Corporation by 22.8%, holding 7,124 shares valued at approximately $19.21 million.
• The company's stock recently opened at $3,685.92 with a market cap of $3.54 billion and a dividend yield of 28.0%.
• Seaboard's Board of Directors has authorized a $100 million stock buyback plan, indicating confidence in the company's value.

Charles Schwab Investment Management Inc. raised its holdings in shares of Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 22.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,124 shares of the company's stock after buying an additional 1,324 shares during the period. Charles Schwab Investment Management Inc. owned about 0.73% of Seaboard worth $19,214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SEB. Vanguard Group Inc. increased its holdings in Seaboard by 11.2% during the first quarter. Vanguard Group Inc. now owns 27,811 shares of the company's stock valued at $75,010,000 after buying an additional 2,792 shares during the last quarter. GAMMA Investing LLC increased its holdings in Seaboard by 67,325.0% during the first quarter. GAMMA Investing LLC now owns 2,697 shares of the company's stock valued at $7,274,000 after buying an additional 2,693 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Seaboard by 70.6% during the fourth quarter. Two Sigma Advisers LP now owns 5,315 shares of the company's stock valued at $12,914,000 after buying an additional 2,200 shares during the last quarter. Millennium Management LLC increased its holdings in Seaboard by 201.4% during the fourth quarter. Millennium Management LLC now owns 2,933 shares of the company's stock valued at $7,126,000 after buying an additional 1,960 shares during the last quarter. Finally, Private Management Group Inc. increased its holdings in Seaboard by 18.4% during the first quarter. Private Management Group Inc. now owns 10,111 shares of the company's stock valued at $27,271,000 after buying an additional 1,570 shares during the last quarter. 22.57% of the stock is owned by hedge funds and other institutional investors.

Seaboard Stock Performance

SEB stock traded up $150.79 during midday trading on Thursday, reaching $3,925.79. 3,726 shares of the company's stock traded hands, compared to its average volume of 2,113. The stock's 50-day moving average is $3,233.97 and its 200 day moving average is $2,831.59. 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 $3.77 billion, a P/E ratio of 27.39 and a beta of 0.19. Seaboard Corporation has a 52-week low of $2,365.00 and a 52-week high of $3,941.11.

Seaboard Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.2%. Seaboard's dividend payout ratio is currently 9.93%.

Seaboard declared that its Board of Directors has authorized a stock repurchase program 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 programs are generally a sign that the company's board believes its stock is undervalued.

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.