Salesforce, Inc. (CRM) to Issue Quarterly Dividend of $0.40 on July 25th

Salesforce, Inc. (NYSE:CRM) announced a quarterly dividend on Thursday, June 27th, RTT News reports. Shareholders of record on Tuesday, July 9th will be given a dividend of 0.40 per share by the CRM provider on Thursday, July 25th. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, July 9th.

Salesforce has a payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Salesforce to earn $8.42 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 19.0%.

Salesforce Stock Performance

Shares of CRM stock opened at $257.10 on Friday. The stock’s 50-day moving average is $259.79 and its two-hundred day moving average is $276.20. The firm has a market cap of $249.13 billion, a price-to-earnings ratio of 46.24, a PEG ratio of 2.22 and a beta of 1.25. Salesforce has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 earnings per share. Analysts predict that Salesforce will post 7.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 5,864 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the completion of the sale, the chief financial officer now directly owns 45,231 shares of the company’s stock, valued at approximately $12,428,121.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 5,864 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the transaction, the chief financial officer now owns 45,231 shares in the company, valued at approximately $12,428,121.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the completion of the transaction, the insider now owns 105,837 shares in the company, valued at approximately $31,936,314.75. The disclosure for this sale can be found here. In the last three months, insiders sold 547,387 shares of company stock valued at $151,174,635. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price target on shares of Salesforce in a report on Friday, May 24th. KeyCorp initiated coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Piper Sandler reduced their price target on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $292.79.

About Salesforce

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.