A comprehensive look at the top agriculture stocks and their market capitalization in 2024
Agriculture, despite being replaced by industrialization and technology, remains an indispensable industry in modern society. The evolution of agriculture stocks has led to a diverse range of companies involved in various aspects of the agricultural supply chain, from manufacturing equipment to genetic engineering and food processing. These agriculture stocks offer investors the stability of a demand-driven market, making them attractive even during economic downturns. However, like any other stocks, they are also vulnerable to market weaknesses and global supply chain disruptions.
In this article, we will explore the 15 biggest agriculture stocks in 2024, ranked by their latest market capitalization. These stocks represent companies involved in different stages of the agricultural supply chain, from seed and fertilizer companies to food processors and retailers.
Sime Darby Plantation Berhad (OTC:SDPNF)
Sime Darby Plantation Berhad is one of the largest agricultural companies in the world, specializing in the global palm oil industry. With a market capitalization of $6.32 billion, it is one of the biggest agriculture stocks in the world.
Darling Ingredients Inc. (NYSE:DAR)
Darling Ingredients Inc. provides food products and raw materials to the broader agriculture industry. Despite missing analyst EPS estimates in three of its four latest quarters, the stock is rated as a Strong Buy on average, with an average share price target of $68.06. Its market capitalization stands at $6.65 billion.
Ingredion Incorporated (NYSE:INGR)
Ingredion Incorporated is a diversified corn company that processes corn into various end forms and products. The company has been divesting its businesses to focus on core areas, and its market capitalization currently stands at $7.19 billion.
FMC Corporation (NYSE:FMC)
FMC Corporation sells fertilizers, pesticides, insecticides, and other associated products. The stock was downgraded by Bank of America in January 2024, but it still holds a market capitalization of $7.51 billion.
AGCO Corporation (NYSE:AGCO)
AGCO Corporation is an industrial company known for its tractors. The company recently upgraded its dealership network, catering to the demand of specific areas. With a market capitalization of $9 billion, AGCO Corporation is one of the biggest agriculture stocks in the world.
The Toro Company (NYSE:TTC)
The Toro Company manufactures and sells irrigation equipment. Despite facing challenges due to high inflation and borrowing costs, the company’s business segment has shown growth. Its market capitalization stands at $9.52 billion.
The Mosaic Company (NYSE:MOS)
The Mosaic Company is one of the largest fertilizer companies in the U.S. Despite missing analyst EPS estimates in its latest quarters, the stock is rated as a Buy on average, with an average share price target of $39.13. Its market capitalization is $9.85 billion.
Bunge Global SA (NYSE:BG)
Bunge Global SA is a diversified agriculture and food company involved in commodity trading, processing, and other operations. The company has beaten analyst EPS estimates in its latest quarters, and with institutional investors holding more than 90% of the shares, the stock offers stability. Its market capitalization stands at $13 billion.
CF Industries Holdings, Inc. (NYSE:CF)
CF Industries Holdings sells ammonia and urea for fertilizer and other uses. The company recently appointed a new CEO and is heading towards its financial results for the fourth quarter. Its market capitalization is $14.57 billion.
Lamb Weston Holdings, Inc. (NYSE:LW)
Lamb Weston Holdings is a food company that sells potatoes, dairy, and other food products. The stock is highly rated, with analysts giving it a Strong Buy rating and an average share price target of $129.25. Its market capitalization is $15.12 billion.
The agriculture industry continues to evolve, with agriculture stocks encompassing a wide range of companies involved in different stages of the supply chain. These stocks offer stability and long-term growth potential, as the demand for agricultural products remains constant. However, they are not immune to market weaknesses and global supply chain disruptions. Investors looking to capitalize on the agriculture sector should carefully consider the market capitalization and performance of these top agriculture stocks in 2024.