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Smithfield Foods Inc. (NASDAQ:SFD) is one of the most profitable new stocks to buy now. On June 21, Smithfield Foods announced that it will be relocating ~115 US corporate jobs to its headquarters in Hampton Roads, Virginia, by the end of 2026. The move involves closing two regional Midwest offices located in Illinois and Missouri.
The company has not yet determined the exact number of employees who will relocate versus new hires for these roles. The consolidation will improve operating efficiency, reduce the company’s real estate footprint, and better utilize existing office capacity.
In 2024, Smithfield Foods reported contributing $2.5 million in cash and in-kind donations and generating $3.9 million in tax revenue within Virginia. The company also operates an R&D facility and a bacon and fresh pork processing plant in Smithfield.
Smithfield Foods Inc. (NASDAQ:SFD) produces packaged meats and fresh pork in the US and internationally.
While we acknowledge the potential of SFD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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