10 NYSE Stocks Hitting 52-Week Highs Tuesday

Bull sentiment dominated the markets during the first two trading sessions of the week, thanks to growing optimism about economic growth in the U.S after a strong jobs report, as well as receding political volatility in the U.K. In the midst of this positive sentiment, several major stocks hit their 52-week highs on Tuesday.

The list includes Allstate Corp (NYSE:ALL), Baxter International Inc (NYSE:BAX), Bristol-Myers Squibb Co (NYSE:BMY), CBS Corporation (NYSE:CBS), Cabelas Inc (NYSE:CAB), Coach Inc (NYSE:COH), Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Lowe’s Companies, Inc. (NYSE:LOW), and Philip Morris International Inc. (NYSE:PM). Let’s check out the performance of these stocks and see how the hedge funds in our database have been trading some of them.

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Exxon Mobil Corporation (NYSE:XOM), Sign, headquarters, Logo, Symbol, Building, Gas, Oil

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Shares of Allstate Corp (NYSE:ALL) reached a new 52-week high after hitting $70.38 on Tuesday. The Illinois-based insurance company has given back some of those gains today, falling back under the $70 mark. Allstate announced the promotion of Patrick Macellaro to President of Encompass Insurance today, one of Allstate’s subsidiaries.

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Baxter International Inc (NYSE:BAX) hit a new one-year high of $47.13 in trading on Tuesday. Shares touched $47.22 today, but have since slid back to $46.99. 16.30% of Baxter’s outstanding shares were held by the hedge funds in our database as of March 31.

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Bristol-Myers Squibb Co (NYSE:BMY) reached a new 52-week high on Tuesday, hitting $76.55, and has pushed that to $76.89. The company’s stock was recently given a ‘Buy’ rating from Goldman Sachs. Earlier this month, Bristol-Myers announced the acquisition of privately-held Cormorant Pharmaceuticals.

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CBS Corporation (NYSE:CBS) hit its 52-week high of $58.15 on Tuesday. The media company recently revealed its plans to spin-off its radio unit as a publicly-traded company. CBS shares have gained 22% this year.

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Move to the next page where we discuss six more stocks that hit new highs yesterday.

Cabelas Inc (NYSE:CAB)’s stock has been on a steady rise since June 27, pushing it to its 52-week high of $54.32 yesterday. A high volume of 898,706 shares traded hands during the session. Billionaire Ken Fisher’s Fisher Asset Management owns 1.01 Cabelas shares as of June 30.

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Coach Inc (NYSE:COH) hit its one-year high on Tuesday, reaching $42.64 during the session. Coach’s acquisition of Stuart Weitzman has given a significant boost to its financial position over the past few months and contributed to its long-term goal of becoming a multi-brand company. Shares of the luxury handbag and luggage company have gained 28% this year.

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Chevron Corporation (NYSE:CVX)’s stock climbed by 1% to touch its 52-week high of $106.44 on Tuesday. Earlier this week, Jefferies & Co reiterated their ‘Buy’ rating on the $203 billion oil giant. The company pays a quarterly dividend of $1.07, which equates to an annual dividend yield of $4.02.

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Another oil giant, Exxon Mobil Corporation (NYSE:XOM), also rose to its 52-week high on Tuesday. The company also announced that all of its facilities in Nigeria were safe, following a terror group’s claims that it had attacked the firm’s plants in the country. The company was recently under fire from 19 democratic senators who brought a resolution to the Senate against the company for “deliberately misleading” the public about climate change, which remains hotly contested in the U.S despite broad acceptance outside the country.

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Lowe’s Companies, Inc. (NYSE:LOW)’s stock hit its 52-week high of $82.65 on Tuesday, though it’s fallen by 1.42% today. The North Carolina-based home improvement store chain is reaping the benefits from its strategic acquisitions, including the purchase of Orchard Supply Hardware Stores. Lowe’s Companies’ shares have soared by 28% since February 11.

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Lastly, Philip Morris International Inc. (NYSE:PM)’s stock reached its 52-week peak of $103.82 yesterday. The tobacco company was recently upgraded to ‘Overweight’ by analysts at JP Morgan, who have a price target of $112 on the stock. Shares have traded in a tight range for the past three months, but have gained 17% this year.

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