Seaboard (NYSEAMERICAN:SEB) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Seaboard (NYSEAMERICAN:SEB) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Seaboard Stock Down 0.3 %

Shares of Seaboard stock opened at $3,087.62 on Wednesday. Seaboard has a 1 year low of $2,955.33 and a 1 year high of $3,850.00. The firm has a market cap of $2.99 billion, a PE ratio of 12.83 and a beta of 0.35. The company has a quick ratio of 1.47, a current ratio of 2.45 and a debt-to-equity ratio of 0.21.

Seaboard (NYSEAMERICAN:SEB) last announced its earnings results on Tuesday, July 30th. The company reported $62.82 earnings per share (EPS) for the quarter. Seaboard had a return on equity of 5.69% and a net margin of 3.01%. The firm had revenue of $2.21 billion during the quarter.

Seaboard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Friday, August 9th. Seaboard’s dividend payout ratio is presently 3.74%.

Institutional Investors Weigh In On Seaboard

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Seaboard by 12.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,037 shares of the company’s stock worth $7,272,000 after acquiring an additional 229 shares during the last quarter. Alaska Permanent Fund Corp increased its holdings in Seaboard by 165.5% in the 1st quarter. Alaska Permanent Fund Corp now owns 884 shares of the company’s stock worth $2,850,000 after acquiring an additional 551 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Seaboard in the 4th quarter worth about $1,349,000. Allspring Global Investments Holdings LLC increased its holdings in Seaboard by 64.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,560 shares of the company’s stock worth $5,029,000 after acquiring an additional 610 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Seaboard in the 1st quarter worth about $550,000. Hedge funds and other institutional investors own 22.57% of the company’s stock.

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.