NEW YORK (TheStreet) -- The bull market in restaurant stocks may finally be showing signs of fatigue.
The sector has been on fire for much of the past five years, with average annual returns during that period for the 40 or so restaurant stocks I track at above 40%. But with the average price-to-earnings ratio above 33, it may be time for a breather.
Year to date, the restaurant stocks I track are up an average of 1.3%, which still beats the S&P 500 (+0.85%), but is behind the Russell 2000 (+2.1%), which may be a more appropriate benchmark given the restaurants' average market capitalization.
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