Stocks hitting new 12-month highs that you might have missed

The AI theme continues to grab the headlines driven by a handful of big US technology companies and semiconductor stocks, which are increasingly influencing the performance of benchmark indices like the S&P 500.

But there are other parts of the market minting fresh 12-month highs, from payments companies and consumer brands to energy, healthcare and travel, which means there are pockets of strength outside the AI complex hiding in plain sight.

Companies such as Coca-Cola, Visa and Mastercard are not just sitting at new 12-month highs, they are also making all-time highs, suggesting some market rotation away from chip stocks.

Why focus on the 52-week high?

While a new one-year high is only a starting point for conducting further research rather than a buy signal, it can suggest investor expectations are improving.

One study published in the Journal of Finance demonstrated that stocks trading close to their 52-week peak tend to outperform the market over the next 12-months. This could be related to investors fixating on the high as a physiological ‘fair value’ ceiling, causing underreaction to positive developments.

Two old economy stocks with new momentum

Berkshire Hathaway shares are closing in on the all-time high of $540 it set back in May 2025, which came after the announcement of former CEO Warren Buffett’s succession.

Berkshire is the largest ‘value’ stock in the S&P 500, and it tends to attract money when markets wobble or investors get nervous. The company’s huge cash pile also gives it some defensive qualities.

One of the challengers for Buffett’s successor CEO Greg Abel is to find ways of deploying Berkshire’s growing cash pile, which reached around $360 billion in the second quarter.

There are tentative signs Berkshire is starting to deploy its cash, via share buybacks, market purchases and acquisitions. After a pause of roughly 21 months Berkshire resumed share buybacks, executing $8 billion across the first half of 2026.

In the second quarter Berkshire became a net buyer of equities and forked out $6.8 billion to acquire home builder Taylor Morrison, expanding its footprint in US housing.

Coca-Cola – an affordable treat

Brand strength, the ability to raise prices and unrivalled global distribution capabilities are all factors which have helped drive Coca-Cola shares to new highs.

Second quarter organic revenues grew 6%, driven by case volumes up 5% and price/mix up 2%, contributing to double-digit earnings per share growth.

Management raised full year revenue guidance to the top of the prior 4% to 5% range and increased projected EPS growth to 9% to 10% from 8% to 9% previously.

Pearson turns AI threat on its head

It might be surprising to see education publisher Pearson making 12-month highs, because as recently as February the shares were caught up in an AI-related software sell-off, which wiped out around a third of its market value.

The company seems to have convinced investors that AI is an opportunity rather than a threat to its business, after signing skills partnerships with companies like Salesforce and Adobe, helping to train their employees for an AI-driven workplace. Pearson is also embedding AI into its own learning products including an AI-powered maths tutor.

Pearson grew first half revenue by 7% with adjusted operating profit up 14% while also completing a £350 million share buyback. The company reiterated full year operating profit guidance of between £640 million and £685 million.

Greggs surprises

On-the-go food retailer Greggs recently made a 52-week high after revealing faster third quarter like-for-like sales growth and raising its outlook on 30 September.

Before the update there were concerns that Greggs’ expansion plans had run ahead of underlying demand, which was exacerbated by hot weather impacting sales growth over the summer.

Investor sentiment was also given a boost by the company’s plans to close four manufacturing plants over the next two and a half years, which is expected to result in £20 million annual cost savings.

Saga – has the wind in its sails

Over 50’s specialist Saga has transformed itself in the last few years by reducing its heavy debt pile, becoming less capital-intensive and focusing on its core travel business.

These structural changes combined with strong demand cruises have paid off with first half pre-tax profits almost doubling to £46.6 million and operating cash flow increasing by 27% to £101 million.

Net debt fell to £429 million from £515 million which lowered the EBITDA (earnings before interest, tax, depreciation, and amortisation) to net debt ratio from 4.3 times ratio to 2.7.

Halfords in top gear

The exceptional UK summer weather helped boost demand for Halford’s cycling and camping products, giving extra traction to the company’s strategic reset launched by CEO Henry Birch in 2025.

The company reported first half like-for-like sales growth of 7.1% on 21 October and confirmed that full year pre-tax profit is expected to be between £55 million to £65 million, representing 32% growth at the midpoint of the range.

The lack of a further profit upgrade combined with the announcement of accelerated investments in marketing and technology in the second half saw the shares weaker, although they remain up around 86% over the past year.