ASX shares had a lacklustre day on Tuesday, with the S&P/ASX 200 Index (ASX: XJO) closing down 0.16% and the S&P/ASX All Ordinaries Index (ASX: XAO) finishing the session down 0.17%.
But amidst the sea of red were three ASX shares with market capitalisations above $10 billion that hit new 52-week highs today.
Shares with market caps that are this big are called ASX large-caps, and they all sit within the ASX 200.
Let's check them out.
Why these 3 ASX shares hit 52-week highs today
Coles Group Ltd (ASX: COL)
The Coles share price ascended to a 52-week high of $19.05 on Tuesday, up 3.2%. This followed the release of Coles' FY24 financial results today.
The consumer staples giant reported a 5.7% increase in revenue to $43.6 billion and a 7.3% bump to underlying earnings before interest and tax (EBIT) to $2,175 million.
Its underlying net profit after tax (NPAT) increased by 4.1% to $1,210 million, and earnings per share (EPS) rose 2.1% to 84.6 cents.
Coles shares will pay a final dividend of 32 cents per share with 100% franking.
The Coles share price is up 17.83% over the past 12 months.
Stockland Corporation Ltd (ASX: SGP)
The Stockland share price lifted to a 52-week high of $5.10 on Tuesday, up 1%.
We didn't receive any official news from the real estate investment trust (REIT) today.
However, Stockland shares have been on an upward trajectory since the ASX REIT released its FY24 results last Thursday.
Stockland is one of Australia's largest residential land and housing developers.
The company reported a statutory profit of $305 million for FY24, down from $440 million in FY23, partly due to lower asset revaluations.
Stockland reported a 4.5% dip in its pre-tax FFO to $843 million. Pre-tax FFO per security was 35.4 cents, which was at the top of the company's guidance range of 34.5 to 35.5 cents.
Stockland shares will pay a distribution of 16.6 cents per share.
This ASX property share has risen 18.72% over the past 12 months.
Amcor CDI (ASX: AMC)
Amcor shares reached a 52-week high of $16.49 on Tuesday, up 0.86%.
The company did not release any price-sensitive news on Tuesday.
It appears the stock's ascension to a new 52-week high is part of a rebound following a 2.79% fall on 16 August, when Amcor released its full-year FY24 results.
Amcor reported net sales of $13.64 billion, down 7% on FY23, and an adjusted EBIT of $1.56 billion, down 1%. The ASX materials stock will pay a quarterly dividend of 12.5 US cents per share.
The Amcor share price is up 10.62% over the past 12 months.
