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On March 19, Chipotle Mexican Grill (NYSE: CMG ) announced the first stock split in its history. When it comes to high-priced stocks, they don't get much higher than Chipotle.

Seaboard's pork division has been performing poorly due to low pork prices and high production costs. The company reported a 15% decrease in total revenue for FY 2023, resulting in a significant decrease in gross income and operating income. Seaboard expects the pork division to break even this year and has set a total capex budget of $555M for further investment.

Seaboard is a defensive investment opportunity trading well below tangible book value. The company just executed a large share buyback transaction at a -15% price discount, which is expected to be accretive to future per share results.

Seaboard Corporation has had a difficult start to the 2023 fiscal year, with a decline in revenue, profits and cash flows, largely due to issues in its three largest operating segments. The Pork segment of the business saw a decrease in operating profit due to lower sales prices and higher hog costs, while the Commodity Trading and Milling segment experienced a decline in revenue due to increased competition. Despite the current slump, shares of Seaboard Corporation are attractively priced and the company is expected to recover in the long term, leading to a "Buy" rating for the business.

Seaboard is a large producer of pork, provider of marine services while its Turkey division owns the Butterball brand. The performance in the first quarter was abysmal as the pork division performed poorly. Q2 may not be better but as hog prices are increasing I'm hopeful Seaboard's realized pork prices will improve.

Seaboard Corp. SEB, +0.50% said it received a proposal from its founding family to buy back shares, and appointed an independent committee to examine it, according to a Securities and Exchange Commission filing late Tuesday. Seaboard said its Chair Ellen Bresky and other members of the Bresky family have asked the company to buy back “at least” $600 million in shares held by the Bresky Group.

Seaboard Corporation has been hit in recent months, just like most other firms during the market's plunge. Although the financial data of the business has been mixed, the overall trend is positive.