Top 5 Agriculture Stocks to Buy According to Billionaire Mario Gabelli

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1. CNH Industrial N.V. (NYSE:CNHI)

GAMCO Investors’ Stake Value: $113,946,000 

Percentage of GAMCO Investors’ 13F Portfolio: 1.24%

Number of Hedge Fund Holders: 25

CNH Industrial N.V. (NYSE:CNHI) is a leading multinational manufacturer of agricultural and farm machinery and is also one of Mario Gabelli’s top picks from the agriculture sector. The investment covers 1.24% of GAMCO Investors’ 13F portfolio and the stock is among the fund’s top 10 holdings.

On July 29, CNH Industrial N.V. (NYSE:CNHI) announced market-beating earnings for the fiscal second quarter of 2022. The company reported earnings per share of $0.43 and beat Wall Street expectations by $0.06. The company generated a revenue of $6.08 billion for the quarter and beat revenue estimates by $516.2 million.

Shortly after the company’s earnings release, Deutsche Bank analyst Nicole DeBlase raised her price target on CNH Industrial N.V. (NYSE:CNHI) to $17 from $16 and maintained a Buy rating on the shares.

At the close of Q2 2022, 25 hedge funds held stakes in CNH Industrial N.V. (NYSE:CNHI). The total value of these stakes amounted to $606.25 million. Of those, $113.94 million were of GAMCO Investors.

Here is what Oakmark Fund had to say about CNH Industrial N.V. (NYSE:CNHI) in its second-quarter 2022 investor letter:

“We sold our position in Iveco Group (Italy), in favor of names that, in our opinion, offer a more favorable risk/return profile. Iveco Group’s arrival in the Fund stemmed from CNH Industrial N.V. (NYSE:CNHI)’s demerger of its trucks and commercial vehicles business in early January. We continue to hold CNH Industrial as we believe it holds an attractive valuation at its current price.”

You can also take a look at Billionaire Mario Gabelli’s Top 10 Stock Picks and 10 Best Agriculture Stocks to Invest In.

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