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

StockNews.com cut shares of Seaboard (NYSEAMERICAN:SEB) from a buy rating to a hold rating in a research note published on Wednesday.

Seaboard Stock Performance

Shares of SEB stock opened at $2,700.00 on Wednesday. Seaboard has a 52-week low of $2,648.69 and a 52-week high of $3,796.00. The stock has a market capitalization of $2.62 billion, a P/E ratio of -820.67 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.50 and a current ratio of 2.44.

Seaboard (NYSEAMERICAN:SEB) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($153.44) earnings per share for the quarter. The company had revenue of $2.22 billion for the quarter. Seaboard had a negative return on equity of 0.04% and a negative net margin of 0.02%.

Seaboard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $9.00 annualized dividend and a yield of 0.33%. Seaboard’s dividend payout ratio is currently -273.56%.

Hedge Funds Weigh In On Seaboard

A number of large investors have recently modified their holdings of SEB. Victory Capital Management Inc. lifted its stake in shares of Seaboard by 195.4% in the third quarter. Victory Capital Management Inc. now owns 700 shares of the company’s stock valued at $2,196,000 after purchasing an additional 463 shares during the period. Versor Investments LP purchased a new stake in shares of Seaboard during the 3rd quarter worth approximately $216,000. Diamond Hill Capital Management Inc. increased its stake in Seaboard by 27.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 509 shares of the company’s stock valued at $1,597,000 after purchasing an additional 110 shares in the last quarter. Covestor Ltd raised its holdings in Seaboard by 21.2% during the third quarter. Covestor Ltd now owns 40 shares of the company’s stock worth $127,000 after purchasing an additional 7 shares during the last quarter. Finally, Private Management Group Inc. boosted its position in Seaboard by 4.6% during the third quarter. Private Management Group Inc. now owns 6,531 shares of the company’s stock worth $20,488,000 after purchasing an additional 289 shares in the last quarter. 22.57% of the stock is owned by hedge funds and other institutional investors.

Seaboard Company 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.