5 Best FMCG Stocks To Buy Now

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In this article, we discuss the 5 best FMCG stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 11 Best FMCG Stocks To Buy Now.

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

Number of Hedge Fund Holders: 64

Ranking 5th on the list of 11 best FMCG stocks to buy now is The Home Depot, Inc. (NYSE: HD). The company was founded in 1978 and operates over 2,312 branches worldwide. The Home Depot, Inc. (NYSE: HD) is a home improvement retailer that markets consumer needs for building materials, home decor, and garden supplies.

In 2020, The Home Depot, Inc. (NYSE: HD) acquired maintenance, repair, and operations product provider HD Supply. The acquisition of HD Supply establishes the company as a leader in the highly fragmented MRO business.

Credit Suisse analyst Lavesh Hemnani raised the price target on The Home Depot, Inc. (NYSE: HD) from $319 per share to $330 per share this May, while keeping his Outperform rating on the stock.

The company has a market cap of $348.47 billion and currently offers a dividend yield of 2.01%. In the second quarter of 2021, The Home Depot, Inc. (NYSE: HD) reported an EPS of $4.53, beating estimates by $0.10. The company’s second-quarter revenue came in at $41.12 billion, up 8.1% year-over-year and beating revenue estimates by $380.39 million.

By the end of the second quarter of 2021, 64 hedge funds out of the 873 tracked by Insider Monkey held stakes in The Home Depot, Inc. (NYSE: HD) worth roughly $4.17 billion. This is compared to 68 hedge funds in the previous quarter with a total stake value of approximately $4.35 billion.

Nelson Capital Management mentioned The Home Depot, Inc. (NYSE: HD) in its Q2 2021 investor letter:

“In the consumer discretionary sector, we trimmed pandemic winners in favor of companies we believe will outperform in a recovery period. We also trimmed our position in Home Depot (tkr: HD), as it will be challenged by tough comparable statistics, supply chain issues, and rising commodity costs.”

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