The stock for great companies doesn't fall into the discount bin all that often. It is usually a good deal if you simply get a fair price, which is what looks to be the case with (NASDAQ: PEP) today.

Although the price is "only" down around 9% from its 2023 highs (just above "correction" territory), the dividend yield and valuation metrics here suggest now is a good time to add the stock to your portfolio.

The PepsiCo name is clearly associated with the soda brand Pepsi, one of the largest and best-known beverage labels on the planet. Soda is, indeed, a big part of PepsiCo's business, but it is only one part. The company's beverage activities span a wide gamut, including sports drinks, teas, and even protein drinks. And that doesn't even touch on the full scale of the $230 billion market cap company's portfolio.

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Source Fool.com