KG&L Capital Management LLC Boosts Stock Holdings in Salesforce Inc. (NYSE:CRM)

KG&L Capital Management LLC increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 56.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,312 shares of the CRM provider's stock after purchasing an additional 1,924 shares during the period. KG&L Capital Management LLC's holdings in Salesforce were worth $1,425,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC lifted its stake in Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after purchasing an additional 33 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of Salesforce by 0.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider's stock valued at $2,369,000 after buying an additional 35 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of Salesforce by 3.5% in the fourth quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider's stock valued at $346,000 after buying an additional 35 shares in the last quarter. WR Wealth Planners LLC raised its position in shares of Salesforce by 9.0% in the fourth quarter. WR Wealth Planners LLC now owns 449 shares of the CRM provider's stock valued at $150,000 after buying an additional 37 shares in the last quarter. Finally, Fielder Capital Group LLC raised its position in shares of Salesforce by 3.0% in the fourth quarter. Fielder Capital Group LLC now owns 1,289 shares of the CRM provider's stock valued at $431,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the completion of the sale, the chief accounting officer now directly owns 12,211 shares of the company's stock, valued at approximately $3,097,442.26. This represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Oscar Munoz acquired 3,882 shares of Salesforce stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now directly owns 11,843 shares in the company, valued at $3,046,967.04. This represents a 48.76% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 26,284 shares of company stock valued at $6,996,762. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Up 0.7%

NYSE CRM traded up $1.98 during trading hours on Friday, hitting $272.72. The company's stock had a trading volume of 21,736,713 shares, compared to its average volume of 6,553,599. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The company has a market capitalization of $260.72 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 2.45 and a beta of 1.38. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The company's 50-day simple moving average is $270.38 and its two-hundred day simple moving average is $294.66.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last year, the firm earned $2.44 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal 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 given 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 0.61%. Salesforce's payout ratio is 25.98%.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. Stephens decreased their price objective on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Morgan Stanley reiterated an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Barclays cut their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. BMO Capital Markets cut their price target on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, May 27th. Finally, Royal Bank Of Canada lowered shares of Salesforce from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $420.00 to $275.00 in a report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $349.08.

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.