Bank of New York Mellon Corp Trims Stock Position in Frontdoor, Inc. (NASDAQ:FTDR)

Bank of New York Mellon Corp decreased its position in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533,659 shares of the company's stock after selling 19,210 shares during the period. Bank of New York Mellon Corp owned approximately 0.70% of Frontdoor worth $29,175,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blackhawk Capital Partners LLC. raised its holdings in Frontdoor by 3.2% in the fourth quarter. Blackhawk Capital Partners LLC. now owns 25,540 shares of the company's stock worth $1,396,000 after buying an additional 791 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Frontdoor by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 399,821 shares of the company's stock valued at $21,858,000 after acquiring an additional 11,854 shares in the last quarter. Nkcfo LLC purchased a new position in Frontdoor in the 4th quarter worth approximately $96,000. Blue Trust Inc. lifted its position in Frontdoor by 315.3% in the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company's stock valued at $89,000 after acquiring an additional 1,239 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Frontdoor during the 4th quarter valued at $298,000.

Frontdoor Stock Performance

NASDAQ:FTDR traded up $0.84 during trading hours on Wednesday, reaching $38.75. The company had a trading volume of 572,277 shares, compared to its average volume of 791,230. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 12.81 and a beta of 1.18. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The firm's 50 day moving average price is $55.06 and its 200-day moving average price is $53.43. Frontdoor, Inc. has a 52 week low of $29.41 and a 52 week high of $63.49.

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Analyst Upgrades and Downgrades

FTDR has been the subject of several recent analyst reports. Truist Financial boosted their price target on Frontdoor from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. The Goldman Sachs Group decreased their target price on Frontdoor from $46.00 to $40.00 and set a "sell" rating for the company in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.25.

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.