bury, archery target mound
堋 centers on a raised earthen structure: a mound used for archery targets, and by extension the act of burying something in the ground.
堋 combines 土 (earth) with 朋, which likely contributes the sound. The character originally referred to an earthen mound for archery targets, and later extended to burying.
The left side is earth 土, and the right side looks like two stacked mounds 朋. Picture an earthen mound built for archery practice, or earth being piled up to bury something.
For ホウ, imagine a hoe digging into the mound: hoe -> ホウ, and the earth is piled up for the archery target.
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