RFG Holdings Inc. Buys 575 Shares of Salesforce, Inc. (NYSE:CRM)

RFG Holdings Inc. increased its holdings in Salesforce, Inc. (NYSE:CRM) by 22.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,167 shares of the CRM provider’s stock after purchasing an additional 575 shares during the quarter. RFG Holdings Inc.’s holdings in Salesforce were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Baker Chad R boosted its stake in shares of Salesforce by 99.4% during the 1st quarter. Baker Chad R now owns 17,525 shares of the CRM provider’s stock valued at $4,703,000 after purchasing an additional 8,735 shares in the last quarter. Thomasville National Bank boosted its stake in shares of Salesforce by 1.2% during the 1st quarter. Thomasville National Bank now owns 102,231 shares of the CRM provider’s stock valued at $27,435,000 after purchasing an additional 1,221 shares in the last quarter. Bellecapital International Ltd. boosted its stake in shares of Salesforce by 95.4% during the 1st quarter. Bellecapital International Ltd. now owns 2,566 shares of the CRM provider’s stock valued at $689,000 after purchasing an additional 1,253 shares in the last quarter. Mogy Joel R Investment Counsel Inc. boosted its stake in shares of Salesforce by 0.3% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 197,535 shares of the CRM provider’s stock valued at $53,010,000 after purchasing an additional 584 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in shares of Salesforce by 91.1% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 3,692 shares of the CRM provider’s stock valued at $991,000 after purchasing an additional 1,760 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 41,422 shares of the company’s stock, valued at $12,219,490. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock valued at $11,024,802 in the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stephens dropped 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. Northland Securities dropped their price objective on shares of Salesforce from $423.00 to $396.00 and set an “outperform” rating on the stock in a research note on Thursday, May 29th. BMO Capital Markets dropped their price objective on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 27th. Royal Bank of Canada cut shares of Salesforce from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $420.00 to $275.00 in a report on Thursday, May 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $370.00 target price on shares of Salesforce in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $346.34.

Salesforce Price Performance

Shares of CRM stock opened at $266.56 on Friday. The company has a market capitalization of $254.83 billion, a PE ratio of 43.84, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The firm has a fifty day simple moving average of $267.80 and a 200-day simple moving average of $300.72. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last announced its 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 15.96% and a return on equity of 12.34%. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

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.