In this article, we presented the top 5 agriculture stocks to buy now. The list is compiled based on the hedge fund sentiment towards these stocks. To better understand why hedge fund sentiment is important when picking a stock and for a more comprehensive list, please go to Top 10 Agriculture Stocks To Buy Now.
5. Tyson Foods, Inc. (NYSE:TSN)
Tyson Foods, Inc. (NYSE:TSN) ranks fifth in our list of best agriculture stocks to buy now. During the third quarter, the number of hedge funds tracked by Insider Monkey that held shares of Tyson Foods, Inc. (NYSE:TSN) in their portfolios fell by one to 36. Among these investors, the top shareholder is Cliff Asness’ AQR Capital Management, which reported ownership of 1.93 million shares worth $115.08 million, followed by Peter Simmie’s Bristol Gate Capital Partners with a $58.95 million stake containing 991,086 shares. Other investors include Ken Griffin’s Citadel Investment Group, Bernard Horn’s Polaris Capital Management, and Steve Cohen’s Point72 Asset Management.
The stock of one of the largest processors of chicken, beef and pork in the world, is down by more than 22% since the beginning of the year as the company has been hit hard by the pandemic with several facilities closed over outbreaks. However, Tyson posted better than expected EPS and revenue for the last quarter and provided a strong full year-guidance, saying that it expects strong performance of its Beef and Pork segments and growth in Chicken and Prepared foods segments. Recently, Piper Sandler upgraded Tyson Foods, Inc. (NYSE:TSN) to Overvweight from Neutral and raised the price target to $77 from $70. The analyst suggested that a reopening of the economy as a vaccine is released will boost food service sales, although eat-at-home trends will also remain strong.