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3 stocks I’d think about selling this week

Many investors seeking out new opportunities look for ways to free up some cash from their existing portfolio to fund their new ventures.

If you’re looking to take some profit this week, consider these 3 stocks as possible sells.

Qantas Airways Limited (ASX: QAN)

Shares in Australian airline stalwart Qantas Airways Limited have had a stellar run of late, but the good times can’t last forever.

Qantas shares rocketed up to a 52-week high of $6.71 on June 21, but fell back to $6.16 by June 29 and sit up 0.2% to $6.54 at the time of writing.

Last week Bank of America Merril Lynch reinstated coverage of Qantas and placed a buy rating on the stock with a $7.75 price target.

But for the prudent investor, now might be the time to sell off some of your shareholdings and take some profit.

Rising fuel costs will have to hit Qantas at some point, despite its frequent flyer program success and international market strength.

Flight Centre Travel Group Ltd (ASX: FLT)

Travel agency business Flight Centre Travel Group Ltd has had a good run of late on the share price front, hitting a 52-week high on June 27 when its shares closed off trading at $65.18.

Flight Centre has shown it knows how to make good strategic decisions in recent years, with acquisition bolt-ons helping to achieve growth fairly consistently with its share price rising 44% from $43.52 at this time last year to $62.72 at the time of writing.

Taking some profit for the bank could be a smart idea with share prices around these current levels.

The likes of Webjet Limited (ASX: WEB) will continue to place pressure on Flight Centre in the space and you never know what can happen with consumer discretionary spending, with sentiment there liable to change overnight, literally.

Worleyparsons Limited (ASX: WOR)

Project consultancy Worleyparsons Limited shares have been tracking upwards for the last 12 months, rising 72% from its share price of $10.56 at this time last year to $18.17 at the time of writing.

While things look good for now, a share price slide could occur in the near future, with a market reaction to advice this month from the company it expects to take an additional charge to its income tax expense of approximately $20 million which will hit FY18 results.

Now might be the time to think about selling off some of your holdings to take home a pay packet.

Building your portfolio includes taking profit when you make it, that's the only way you'll be able to sustain yourself to grow your stocks for retirement.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group Limited. The Motley Fool Australia has recommended Webjet Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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