In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is lower by 0.3% to 5,763 points.
Four shares which have fallen more than most today are listed below. Here's why they have sunk lower:
The Collins Foods Ltd (ASX: CKF) share price has tumbled 4% to $5.72. I suspect a portion of today's decline is related to its shares going ex-dividend this week. The remainder could be a result of profit taking after a significant rally in the last couple of weeks. I think the KFC operator remains a great buy and hold option at the current share price.
The Creso Pharma Ltd (ASX: CPH) share price is down 5% to 54 cents despite there being no news out of the medicinal cannabis company. But with its shares up 35% since the start of June, I think today's decline is also likely to be a case of profit taking.
The Pepper Group Ltd (ASX: PEP) share price has fallen 7% to $3.48 after the company confirmed the receipt of an indicative, non-binding proposal from KKR Credit Advisors. According to the release, KKR is interested in acquiring the company for $3.60 per share. The financial services company has granted exclusivity to KKR to enable it to undertake due diligence.
The Sonic Healthcare Limited (ASX: SHL) share price is down 4% to $23.33 today. Despite today's decline, the healthcare company's shares are still up 9% year-to-date. Though one broker appears to believe its shares could be about to fall further. A recent research note out of Ord Minnett reveals that its analysts have downgraded Sonic to a lighten rating with a $21.00 price target.
