J.M. Smucker (NYSE:SJM) is a selection for the real-money Inflation-Protected Income Growth portfolio. In this brief video, portfolio manager Chuck Saletta offers up the one reason he's considering selling the stock despite its gain since he bought those shares a little more than a year ago.

In summary: J.M. Smucker is a great company with awesome products people use every day. Its balance sheet is still solid, and its dividend remains well-covered and growing. The key concern is the company's valuation, as its market capitalization is now ahead of what looks like a reasonable fair-value estimate.

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Chuck Saletta owns shares of J. M. Smucker. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.