Kennon Green & Company LLC bought a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,147 shares of the CRM provider’s stock, valued at approximately $5,543,000. Salesforce makes up about 4.4% of Kennon Green & Company LLC’s investment portfolio, making the stock its 10th biggest position.
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A number of other hedge funds also recently bought and sold shares of the stock. Commonwealth Retirement Investments LLC acquired a new position in shares of Salesforce during the fourth quarter worth about $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Salesforce in the fourth quarter valued at approximately $34,000. Abound Financial LLC purchased a new position in Salesforce in the fourth quarter worth approximately $38,000. Costello Asset Management INC lifted its stake in Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 119 shares during the last quarter. Finally, ABS Investment Management LLC acquired a new position in Salesforce during the 2nd quarter worth approximately $610,974,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Salesforce Stock Performance
Shares of Salesforce stock traded down $5.07 on Monday, hitting $229.62. The stock had a trading volume of 6,364,290 shares, compared to its average volume of 13,852,532. The stock has a market cap of $188.98 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.07 and a beta of 1.26. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The company’s 50 day moving average price is $222.02 and its 200 day moving average price is $191.78.
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Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, research analysts anticipate that Salesforce Inc. will post 12.82 EPS for the current year.
Salesforce Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 17th. Salesforce’s payout ratio is presently 16.04%.
Wall Street Analyst Weigh In
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A number of brokerages have recently weighed in on CRM. Wells Fargo & Company raised their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, September 18th. Sanford C. Bernstein restated an “outperform” rating on shares of Salesforce in a research note on Thursday, August 27th. Citigroup reaffirmed a “market outperform” rating on shares of Salesforce in a report on Friday, September 18th. Phillip Securities cut Salesforce from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $253.00 to $166.00 in a research report on Monday, June 29th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Salesforce in a report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.14.
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