Top 5 Agriculture Stocks To Buy Now

1. Deere & Company (NYSE:DE)

Last but not least, Deere & Company (NYSE:DE) is the most popular agricultural stock among the funds tracked by Insider Monkey. Between July and September, the number of funds bullish on the stock went up by 10 to 42 and the total value of their holdings surged to $1.31 billion from $839.88 million. Jean-Marrie Eveillard’s First Eagle Investment Management holds the largest position, which contains 3.95 million shares worth $875.39 million, followed by Edgar Wachenheim’s Greenhaven Associates with 2.02 million shares worth $447.22 million. Other top shareholders are Tom Gayner’s Markel Gayner Asset Management, Ian Simm’s Impax Asset Management, and Ric Dillon’s Diamond Hill Capital.

Deere & Company (NYSE:DE)’s stock surged by more than 43% since the beginning of the year amid the company posting better than expected financial results, but also showing a revenue decline for the past four quarters, which could partially be attributed to the coronavirus pandemic. However, for the latest quarter, the decline narrowed do just 0.51% on the year with revenue amounting to $8.66 billion and beating the estimates by $1.04 billion. At the same time, the company’s fiscal fourth-quarter (ended November 3) EPS of $2.57 was higher than the expected $1.25. For the current fiscal year, Deere said it will benefit from improving conditions in agriculture, construction and forestry markets. Company’s CEO John May said that there is a renewed optimism in the agricultural sector, which should result in higher demand for farm equipment.

Please also see 10 largest agriculture companies in the world and top 20 agriculture producing countries.

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