5 Best Investments During A Recession

In this article, we discuss 5 best investments during a recession. If you want to read our discussion on the stock market and recessionary concerns, head over to 10 Best Investments During A Recession.

 5. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 68

The Home Depot, Inc. (NYSE:HD) is a retailer focused on home improvement. It offers a range of construction materials, home improvement products, items for landscaping and gardening, and decorative products. On August 17, The Home Depot, Inc. (NYSE:HD) declared a quarterly dividend of $2.09 per share, in line with the previous quarter. The dividend was distributed on September 14. During recessionary periods, people are driven towards DIY projects, essential repairs and maintenance of their properties, and smaller yet affordable home upgrades. This makes Home Depot, Inc. (NYSE:HD) one of the most sought-after recession stocks.

According to Insider Monkey’s second quarter database, 68 hedge funds were bullish on The Home Depot, Inc. (NYSE:HD), compared to 65 in the previous quarter. Israel Englander’s Millennium Management is a prominent position holder in the company. 

Madison Sustainable Equity Fund made the following comment about The Home Depot, Inc. (NYSE:HD) in its second quarter 2023 investor letter:

“The Home Depot, Inc. (NYSE:HD) celebrates 30 years of giving back. Team Depot was created in 1993 as a way of organizing associates who were eager to volunteer in their communities. For 30 years, Team Depot associates have worked side by side with non-profits around the United States. Focus areas include spending time with the elderly and activities with at-risk youth. Team Depot also improves the homes and lives of veterans and helps communities impacted by natural disasters.

During the quarter, Home Depot set a goal for battery-powered products to represent over 85% of outdoor lawn equipment sales in the U.S. and Canada by the end of fiscal 2028. Push lawn mowers and handheld leaf blowers and trimmers will run on rechargeable battery technology instead of gas. This will reduce 2 million metric tons of greenhouse gas emissions annually.”