Famed for its namesake line of jellies, Smucker (ticker: SJM) is facing challenging problems in the grocery aisle.Changing consumer tastes have some shoppers looking for fresher fare at the likes of Trader Joe’s and Whole Foods, while others are scouring discount stores in search of rock-bottom prices. Either way, it’s a pickle for the company that makes Folgers coffee, Pillsbury cake mixes and Jif peanut butter. Expect more uncertainty if Amazon's deal for Whole Foods goes through. All this helps explain why Smucker shares have fallen by more than 25% in the past year. But it doesn’t justify the severity of the selloff. Is it time to nibble? We think so. In fact, we recommend a hearty bite.Fetching a forward price-to-earnings multiple of less than 14.4 times earnings, Smucker trades at a 19% discount to its historical average. Moreover the stock, at $114.45, offers a market-beating 2.6% dividend yield.