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Is it a Smart Choice to Invest in Home Depot (HD)?

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Distillate Capital Partners LLC, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. Distillate’s U.S. FSV outperformed S&P 500 in the first quarter of 2022 with a return of -3.60% net of fees versus -4.60% for the benchmark. Since its inception in 2017, annualized performance is now 1.93% ahead of the S&P 500 after fees. The U.S. FSV strategy lagged against the Russell 1000 Value ETF benchmark in the first quarter of 2022 but remains 7.41% ahead annualized since inception. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Distillate Capital mentioned The Home Depot, Inc. (NYSE:HD) and explained its insights for the company. Founded in 1978, The Home Depot, Inc. (NYSE:HD) is an Atlanta, Georgia-based multinational home improvement retail corporation with a $276.4 billion market capitalization. The Home Depot, Inc. (NYSE:HD) delivered a -35.19% return since the beginning of the year, while its 12-month returns are down by -13.70%. The stock closed at $268.98 per share on June 22, 2022.

Here is what Distillate Capital has to say about The Home Depot, Inc. (NYSE:HD) in its Q1 2022 investor letter:

"Taking advantage of valuation opportunities created by performance differences, the U.S. FSV strategy increased its weight in consumer discretionary by around 2.5%. Home Depot (NYSE:HD) was the largest position that was added to after falling by 27% in price in Q1."

Alena Ozerova/Shutterstock.com

Our calculations show that The Home Depot, Inc. (NYSE:HD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. The Home Depot, Inc. (NYSE:HD) was in 75 hedge fund portfolios at the end of the first quarter of 2022, compared to 68 funds in the previous quarter. The Home Depot, Inc. (NYSE:HD) delivered a -15.16% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on The Home Depot, Inc. (NYSE:HD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.