Salesforce Inc. (NYSE:CRM) Position Raised by Chilton Capital Management LLC

Chilton Capital Management LLC raised its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,456 shares of the CRM provider's stock after purchasing an additional 4,650 shares during the quarter. Salesforce accounts for 1.2% of Chilton Capital Management LLC's investment portfolio, making the stock its 28th largest position. Chilton Capital Management LLC's holdings in Salesforce were worth $28,837,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Rice Partnership LLC bought a new stake in Salesforce during the first quarter valued at $2,131,000. McGlone Suttner Wealth Management Inc. boosted its position in Salesforce by 8.4% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 3,053 shares of the CRM provider's stock valued at $819,000 after buying an additional 237 shares during the period. Sierra Ocean LLC lifted its holdings in Salesforce by 47.5% in the 1st quarter. Sierra Ocean LLC now owns 205 shares of the CRM provider's stock worth $55,000 after buying an additional 66 shares during the period. Vickerman Investment Advisors Inc. grew its position in shares of Salesforce by 10.9% in the 1st quarter. Vickerman Investment Advisors Inc. now owns 15,020 shares of the CRM provider's stock worth $4,031,000 after buying an additional 1,472 shares during the last quarter. Finally, Compton Wealth Advisory Group LLC lifted its position in shares of Salesforce by 1.5% in the 1st quarter. Compton Wealth Advisory Group LLC now owns 8,289 shares of the CRM provider's stock worth $2,224,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

NYSE CRM traded down $2.41 during trading hours on Monday, hitting $269.74. The company had a trading volume of 6,249,121 shares, compared to its average volume of 6,542,885. The company has a market cap of $257.87 billion, a PE ratio of 42.21, a price-to-earnings-growth ratio of 2.47 and a beta of 1.36. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The business has a 50 day moving average of $272.28 and a 200-day moving average of $291.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.62%. Salesforce's payout ratio is 25.98%.

Insider Activity

In other news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider owned 41,422 shares of the company's stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,525 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the sale, the chief accounting officer owned 12,211 shares in the company, valued at $3,097,442.26. The trade was a 11.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,784 shares of company stock valued at $8,223,890 over the last quarter. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Mizuho cut their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Citigroup lowered their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $325.00 target price on shares of Salesforce in a report on Thursday, June 26th. Finally, Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.08.

Salesforce Company 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.