Peloton Wealth Strategists Trims Holdings in Salesforce Inc. $CRM

Key Points

• Peloton Wealth Strategists reduced its stake in Salesforce Inc. by 5.8% in Q1, now holding 23,465 shares worth approximately $6.3 million, making Salesforce its 9th largest investment.
• Notable increases in holdings from other investors include AIA Group Ltd (up 8.0%) and Alecta Tjanstepension Omsesidigt (up 121.9%), indicating growing institutional interest in Salesforce.
• Salesforce recently announced a quarterly dividend of $0.416 per share, set to be paid on October 9th, reflecting a dividend yield of 0.7%.

Peloton Wealth Strategists cut its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,465 shares of the CRM provider's stock after selling 1,440 shares during the quarter. Salesforce accounts for approximately 2.6% of Peloton Wealth Strategists' investment portfolio, making the stock its 9th largest position. Peloton Wealth Strategists' holdings in Salesforce were worth $6,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AIA Group Ltd grew its holdings in shares of Salesforce by 8.0% in the first quarter. AIA Group Ltd now owns 32,885 shares of the CRM provider's stock valued at $8,825,000 after purchasing an additional 2,436 shares in the last quarter. Notis McConarty Edward grew its holdings in shares of Salesforce by 71.6% in the first quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock valued at $1,032,000 after purchasing an additional 1,604 shares in the last quarter. Aberdeen Group plc grew its holdings in shares of Salesforce by 1.5% in the first quarter. Aberdeen Group plc now owns 1,036,482 shares of the CRM provider's stock valued at $274,802,000 after purchasing an additional 15,782 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Salesforce by 43.0% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 104,834 shares of the CRM provider's stock valued at $28,133,000 after purchasing an additional 31,537 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its holdings in shares of Salesforce by 121.9% in the first quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock valued at $95,222,000 after purchasing an additional 195,000 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.4%

Shares of CRM opened at $251.83 on Tuesday. The firm has a market capitalization of $239.74 billion, a P/E ratio of 36.60, a P/E/G ratio of 2.29 and a beta of 1.22. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $255.22 and a 200-day moving average price of $265.91.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Equities research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's payout ratio is currently 24.13%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRM shares. Wells Fargo & Company cut their target price on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating for the company in a report on Thursday, September 4th. Oppenheimer dropped their price objective on shares of Salesforce from $370.00 to $315.00 and set an "outperform" rating for the company in a research note on Tuesday, August 26th. Mizuho dropped their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. JMP Securities reaffirmed a "market outperform" rating and set a $430.00 price objective on shares of Salesforce in a research note on Tuesday, September 2nd. Finally, Sanford C. Bernstein dropped their price objective on shares of Salesforce from $255.00 to $221.00 and set an "underperform" rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $333.11.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $241.50, for a total value of $543,375.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,876,644,396.50. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 66,077 shares of company stock valued at $16,885,773 in the last ninety days. Insiders own 3.00% of the company's stock.

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.

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