Aniket PujariWe’re buying 50 shares of Texas Roadhouse at roughly $174 each. Following Wedneday’s trade, Jim Cramer’s Charitable Trust will own 450 shares of TXRH, increasing its weighting to 2.3% from 2.07%. The stock market has come off its session highs and sellers quickly returned despite an encouraging read on consumer inflation. With the S & P Short Range Oscillator indicating the market is very oversold after Tuesday’s close, we’re back making another small buy. Once again, we are nibbling on Texas Roadhouse to improve our average cost basis. We also picked up shares Tuesday when the stock was down. TXRH 1M mountain Texas Roadhouse 1 month The market has valid reasons to be concerned about a slowdown in consumer spending after seeing the disappointing updates from several airlines and retailers. Still, Texas Roadhouse’s same-store sales should be resilient. Consumers crave a good deal in an uncertain economy. Texas Roadhouse consistently delivers for its customers by serving quality food at a much more affordable price than other steakhouses. We learned a few weeks ago that Texas Roadhouse’s first quarter got off to a slow start , but the underlying results were strong and the issues were mostly due to adverse weather and calendar shifts. We expect same-store sales trends will improve as the weather warms up across the country. Texas Roadhouse also owns the Bubba’s 33 and Jaggers casual dining chains. (Jim Cramer’s Charitable Trust is long TXRH. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
