5 Best Consumer Cyclical Dividend Stocks To Buy Now

In this article, we discuss 5 best consumer cyclical dividend stocks to buy now. If you want to read our detailed analysis of consumer cyclical stocks and their outlook, go directly to read 12 Best Consumer Cyclical Dividend Stocks To Buy Now. 

5. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 62

The Home Depot, Inc. (NYSE:HD) is an American home improvement company, based in Georgia. In February, Truist maintained a Buy rating on the stock with a $352 price target, mentioning that the company’s sales trends remained strong in Q4.

The Home Depot, Inc. (NYSE:HD) is one of the best dividend stocks on our list as it has raised its payouts for consecutive 13 years. It currently pays a quarterly dividend of $2.09 per share and has a dividend yield of 2.95%, as of March 27.

According to Insider Monkey’s Q4 2022 database, 62 hedge funds owned stakes in the company, with a total value of over $4.8 billion. With over 4 million shares, Citadel Investment Group was the company’s leading stakeholder in Q4.

Matrix Asset Advisors mentioned The Home Depot, Inc. (NYSE:HD) in its Q3 2022 investor letter. Here is what the firm has to say:

“During the quarter, we re-established a position in The Home Depot, Inc. (NYSE:HD) sold earlier this year, after the shares declined sharply on big picture concerns about a softer housing market and lower consumer spending. We believe that HD is a very well-managed company, positioned to continue showing good profits even as the economy decelerates. The products it carries in inventory are in year-round demand from contractors and homeowners wanting to maintain and improve their homes. The company has historically been shareholder friendly, repurchasing shares and increasing the dividend, most recently by 15% earlier this year. On September 30, HD’s current dividend yield was 2.8%.”