Invesco Ltd. Sells 166 Shares of Seaboard Corporation $SEB

Key Points

• Invesco Ltd. reduced its stake in Seaboard Corporation by 17.5% in the first quarter, holding only 785 shares valued at approximately $2.1 million.
• Seaboard Corporation announced a quarterly dividend of $2.25 on shares, resulting in an annual dividend of $9.00 and a yield of 0.2%.
• The company initiated a share buyback plan allowing for the purchase of up to 4% of its stock, totaling $100 million, indicating management's belief that the stock is undervalued.

Invesco Ltd. trimmed its holdings in Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 17.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 785 shares of the company's stock after selling 166 shares during the period. Invesco Ltd. owned about 0.08% of Seaboard worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SEB. Quarry LP acquired a new stake in shares of Seaboard in the 4th quarter worth about $29,000. Deutsche Bank AG increased its holdings in Seaboard by 37.0% during the 4th quarter. Deutsche Bank AG now owns 37 shares of the company's stock worth $90,000 after purchasing an additional 10 shares in the last quarter. Covestor Ltd raised its stake in shares of Seaboard by 19.5% in the first quarter. Covestor Ltd now owns 49 shares of the company's stock worth $133,000 after purchasing an additional 8 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Seaboard in the first quarter valued at approximately $135,000. Finally, CWM LLC boosted its position in shares of Seaboard by 44.7% during the first quarter. CWM LLC now owns 55 shares of the company's stock valued at $148,000 after buying an additional 17 shares during the last quarter. 22.57% of the stock is currently owned by institutional investors and hedge funds.

Seaboard Stock Up 0.6%

SEB traded up $25.43 during mid-day trading on Wednesday, reaching $3,975.93. 1,368 shares of the stock were exchanged, compared to its average volume of 2,104. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.40. The stock has a market capitalization of $3.82 billion, a PE ratio of 27.63 and a beta of 0.21. The company has a 50 day moving average price of $3,300.06 and a two-hundred day moving average price of $2,865.66. Seaboard Corporation has a 1 year low of $2,365.00 and a 1 year high of $4,038.54.

Seaboard announced that its board has approved a share repurchase program on Wednesday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Seaboard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, August 8th. Seaboard's payout ratio is presently 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.