Dean Foods Sags to Six-Year Low as Milk Demand Keeps Sinking
- Goldman Sachs analyst downgrades stock rating amid weak volume
- Americans turning to other beverages, plant-based milk
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The bad news keeps piling up for the milk market.
Shares of Dean Foods Co., the largest U.S. bottler, fell as much as 8.9 percent to a six-year low after Goldman Sachs Group Inc. downgraded its rating on the stock to sell from neutral. Weakening sales volume may limit the benefits of cheaper milk costs, analyst Judy Hong said Monday.