Bowen Hanes & Co. Inc. Sells 107,855 Shares of Salesforce Inc. $CRM

Key Points

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Bowen Hanes & Co. Inc. reduced its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 94.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,525 shares of the CRM provider's stock after selling 107,855 shares during the period. Bowen Hanes & Co. Inc.'s holdings in Salesforce were worth $1,751,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth about $27,000. Wood Tarver Financial Group LLC purchased a new stake in Salesforce in the 4th quarter worth about $35,000. Capital A Wealth Management LLC lifted its stake in Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its stake in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of CRM stock traded down $0.6670 during trading on Thursday, reaching $245.7830. The company had a trading volume of 5,641,268 shares, compared to its average volume of 7,242,334. The firm's 50 day simple moving average is $258.99 and its two-hundred day simple moving average is $273.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a one year low of $226.48 and a one year high of $369.00. The company has a market capitalization of $234.97 billion, a PE ratio of 38.46, a PEG ratio of 2.23 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The firm's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.44 EPS. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. Sell-side analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio is 25.98%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. DA Davidson raised Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price objective for the company in a research note on Friday, August 15th. Stephens reduced their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Stifel Nicolaus reduced their price target on Salesforce from $375.00 to $325.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Finally, Barclays dropped their price objective on Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a report on Monday. Four analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $342.89.

Insider Activity

In other news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $242.44, for a total value of $545,490.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,887,841,273.24. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 51,032 shares of company stock valued at $13,171,536 over the last 90 days. Company insiders own 3.00% of the company's stock.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.