Frontdoor, Inc. (NASDAQ:FTDR) Holdings Lowered by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 31.2% during the third quarter, Holdings Channel.com reports. The fund owned 22,288 shares of the company’s stock after selling 10,092 shares during the period. Jennison Associates LLC’s holdings in Frontdoor were worth $1,070,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Frontdoor by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company’s stock valued at $331,636,000 after purchasing an additional 373,091 shares during the period. Boston Partners lifted its holdings in Frontdoor by 8.9% in the 1st quarter. Boston Partners now owns 6,198,543 shares of the company’s stock valued at $201,662,000 after acquiring an additional 506,217 shares during the last quarter. Reinhart Partners LLC. grew its stake in shares of Frontdoor by 1.8% in the 2nd quarter. Reinhart Partners LLC. now owns 2,330,937 shares of the company’s stock worth $78,762,000 after purchasing an additional 42,169 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Frontdoor by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock worth $73,529,000 after purchasing an additional 173,624 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Frontdoor by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company’s stock worth $60,402,000 after buying an additional 89,301 shares in the last quarter.

Frontdoor Stock Performance

Shares of FTDR opened at $58.46 on Friday. Frontdoor, Inc. has a 52 week low of $29.41 and a 52 week high of $59.01. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $4.43 billion, a PE ratio of 19.36 and a beta of 1.03. The company’s 50 day moving average price is $51.31 and its 200 day moving average price is $43.58.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.33. The business had revenue of $540.00 million during the quarter, compared to analyst estimates of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. Frontdoor’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. Research analysts expect that Frontdoor, Inc. will post 3.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FTDR. Truist Financial increased their price objective on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. The Goldman Sachs Group lifted their target price on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Finally, William Blair raised shares of Frontdoor from a “market perform” rating to an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.50.

About Frontdoor

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.