JM Smucker's search for balance, growth goes on

JM Smucker's search for balance, growth goes on
FILE - In this Aug. 16, 2010, file photo, a jar of Smucker's preserves is displayed in Philadelphia. J.M. Smucker is doing just about everything asked of it in trying to find areas of faster growth, while ditching some of the packaged foods that fewer people seemingly want. It’s got a long way to go, however, and that may be what is being reflected Tuesday, July 10, 2018, as investors sell off shares of J.M. Smucker as well as other companies in the sector Tuesday. (AP Photo/Matt Rourke, File)

NEW YORK (AP) — J.M. Smucker is doing just about everything asked of it in trying to find areas of faster growth, while ditching some of the packaged foods that fewer people seemingly want.

It’s got a long way to go, however, as seen Tuesday in Wall Street’s humdrum reaction to the sale of some major brands like Pillsbury this week.

A day after selling off its U.S. bakery division, shares of the company, off by 13 percent this year, are down almost 3 percent in early trading.

J.M. Smucker Co., based in Orrville, Ohio, about 20 miles from Akron, announced the million sale of its U.S. baking business on Monday to subsidiaries of the private equity firm Brynwood Partners.