Fintel reports that Kao Min H has filed a 13G/A form with the SEC disclosing ownership of 18.85MM shares of Garmin Ltd. (GRMN). This represents 9.85% of the company.
In their previous filing dated January 28, 2022 they reported 18.86MM shares and 9.67% of the company, a decrease in shares of 0.06% and an increase in total ownership of 0.18% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 11.05% Upside
As of February 5, 2023, the average one-year price target for Garmin is $109.34. The forecasts range from a low of $91.91 to a high of $136.50. The average price target represents an increase of 11.05% from its latest reported closing price of $98.46.
The projected annual revenue for Garmin is $5,278MM, an increase of 6.72%. The projected annual EPS is $5.47, an increase of 9.14%.
Fund Sentiment
There are 1267 funds or institutions reporting positions in Garmin. This is a decrease of 22 owner(s) or 1.71%.
Average portfolio weight of all funds dedicated to US:GRMN is 0.1863%, a decrease of 5.4802%. Total shares owned by institutions increased in the last three months by 2.55% to 119,972K shares.
What are large shareholders doing?
Artisan Partners Limited Partnership holds 6,922,720 shares representing 3.61% ownership of the company. In it's prior filing, the firm reported owning 6,430,144 shares, representing an increase of 7.12%. The firm decreased its portfolio allocation in GRMN by 8.43% over the last quarter.
ARTKX - Artisan International Value Fund Investor Shares holds 5,191,965 shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 4,810,181 shares, representing an increase of 7.35%. The firm decreased its portfolio allocation in GRMN by 2.41% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,605,552 shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 4,549,352 shares, representing an increase of 1.22%. The firm decreased its portfolio allocation in GRMN by 13.74% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,557,735 shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 3,556,924 shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in GRMN by 14.52% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,497,401 shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 3,377,565 shares, representing an increase of 3.43%. The firm decreased its portfolio allocation in GRMN by 12.48% over the last quarter.
Garmin Declares $0.73 Dividend
Garmin said on February 16, 2022 that its board of directors declared a regular quarterly dividend of $0.73 per share ($2.92 annualized). Shareholders of record as of September 14, 2022 received the payment on September 30, 2022. Previously, the company paid $0.67 per share.
At the current share price of $98.46 / share, the stock's dividend yield is 2.97%. Looking back five years and taking a sample every week, the average dividend yield has been 2.67%, the lowest has been 1.50%, and the highest has been 3.83%. The standard deviation of yields is 0.56 (n=237).
The current dividend yield is 0.53 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.58. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.28%, demonstrating that it has increased its dividend over time.
Garmin Background Information
(This description is provided by the company.)
Garmin, formerly known as ProNav, is an American multinational technology company founded in 1989, with headquarters in Olathe, Kansas. The company specializes in GPS technology for automotive, aviation, marine, outdoor, and sport activities. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
