Mounting inflation has raised the risk that the U.S. will soon enter into a recession. The median probability of a U.S. recession in the next 12 months has shot up from 30% in June to 47.5% now, according to a recent Bloomberg survey of economists. 

The growth-focused Nasdaq Composite has dipped 27% year to date. But investors have flocked to sectors with more-predictable demand, like consumer staples. This is largely why the Dividend King PepsiCo (NASDAQ: PEP) is down less than 1% so far this year. 

But is the food and beverage company a buy for income investors at this time? Let's examine PepsiCo's fundamentals and valuation to get an answer to this question.

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Source Fool.com