KMG Fiduciary Partners LLC Trims Stake in Salesforce Inc. $CRM

Key Points

• KMG Fiduciary Partners cut its Salesforce stake by 40.1% in the second quarter, selling 12,231 shares and retaining 18,239 shares valued at approximately $2.86 million.
• Salesforce reported quarterly earnings of $3.88 per share, beating estimates by $0.75, while revenue rose 13.3% year over year to $11.13 billion. The company also pays a quarterly dividend of $0.44 per share, yielding about 0.9% annually.
• Institutional investors own 80.43% of Salesforce, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $249.51, above the reported share price of $197.32.

KMG Fiduciary Partners LLC reduced its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 40.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,239 shares of the CRM provider's stock after selling 12,231 shares during the period. KMG Fiduciary Partners LLC's holdings in Salesforce were worth $2,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Temasek Holdings Private Ltd grew its position in shares of Salesforce by 3.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider's stock worth $181,143,000 after buying an additional 24,332 shares during the period. SFE Investment Counsel grew its holdings in Salesforce by 82.7% in the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider's stock worth $4,608,000 after purchasing an additional 7,871 shares during the period. Secured Retirement Advisors LLC bought a new position in shares of Salesforce during the first quarter valued at approximately $1,004,000. Fluent Financial LLC purchased a new position in shares of Salesforce during the second quarter valued at approximately $2,265,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Salesforce by 2.5% during the first quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider's stock valued at $23,846,000 after purchasing an additional 3,125 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $197.32 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $161.61 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. The firm's 50 day moving average price is $170.99 and its 200-day moving average price is $182.79. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.Salesforce's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities research analysts expect that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Salesforce's payout ratio is 20.37%.

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. TD Cowen restated a "buy" rating on shares of Salesforce in a research note on Friday, June 12th. Wolfe Research cut Salesforce from an "outperform" rating to a "hold" rating in a research note on Wednesday, July 1st. Citigroup raised Salesforce from a "hold" rating to a "buy" rating in a report on Wednesday, July 1st. Erste Group Bank upgraded Salesforce from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Finally, Truist Financial cut shares of Salesforce from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $249.51.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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