Geode Capital Management LLC Has $108.88 Million Stock Position in Frontdoor Inc. $FTDR

Geode Capital Management LLC raised its stake in Frontdoor Inc. (NASDAQ:FTDR) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,887,029 shares of the company’s stock after buying an additional 27,237 shares during the period. Geode Capital Management LLC owned 2.62% of Frontdoor worth $108,879,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in shares of Frontdoor by 0.9% during the third quarter. Arizona State Retirement System now owns 21,758 shares of the company’s stock valued at $1,464,000 after acquiring an additional 193 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Frontdoor by 4.0% during the fourth quarter. Park Avenue Securities LLC now owns 5,107 shares of the company’s stock valued at $295,000 after acquiring an additional 198 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Frontdoor by 11.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,065 shares of the company’s stock valued at $119,000 after acquiring an additional 217 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Frontdoor by 10.4% during the third quarter. Smartleaf Asset Management LLC now owns 2,470 shares of the company’s stock valued at $165,000 after acquiring an additional 233 shares during the last quarter. Finally, Optivise Advisory Services LLC raised its stake in shares of Frontdoor by 6.9% during the fourth quarter. Optivise Advisory Services LLC now owns 3,641 shares of the company’s stock valued at $210,000 after acquiring an additional 235 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FTDR shares. Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Frontdoor in a research note on Thursday, February 26th. Wall Street Zen downgraded shares of Frontdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings downgraded shares of Frontdoor from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 21st. The Goldman Sachs Group raised shares of Frontdoor from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $67.00 in a research note on Monday, March 2nd. Finally, Benchmark started coverage on shares of Frontdoor in a research note on Thursday, March 26th. They set a “buy” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Frontdoor Trading Up 0.7%

NASDAQ:FTDR opened at $63.64 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.95. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 18.23 and a beta of 1.50. The firm has a fifty day simple moving average of $60.61 and a two-hundred day simple moving average of $58.94. Frontdoor Inc. has a 12 month low of $48.47 and a 12 month high of $70.77.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $442.28 million. Frontdoor had a net margin of 12.22% and a return on equity of 118.62%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. Analysts expect that Frontdoor Inc. will post 4.48 EPS for the current fiscal year.

Frontdoor Profile

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.