Jim Cramer Says Darden (DRI)’s Olive Garden is the OG

We recently published 10 Stocks Jim Cramer Talked About.  Darden Restaurants, Inc. (NYSE:DRI) is one of the stocks Jim Cramer discussed recently.

Darden Restaurants, Inc. (NYSE:DRI) is an American full-service restaurant company that operates brands such as Olive Garden. The firm reported its second fiscal quarter earnings on Thursday and posted $3.1 billion in revenue and $2.08 in adjusted earnings per share. While Darden Restaurants, Inc. (NYSE:DRI)’s revenue beat analyst revenue estimates of $3.07 billion, its earnings missed estimates of $2.10. After the earnings, BTIG reiterated a Buy rating and a $225 share price target for the firm on December 19th. Stepehens also reiterated an Equal Weight rating on the same day, which followed the firm’s coverage on December 11th. On the 11th, it cut the share price target to $205 from $215. As part of its coverage, the firm commented that Darden Restaurants, Inc. (NYSE:DRI) was experiencing weaker trends at Olive Garden, but added that comparable sales at LongHorn Steakhouse appeared to be stable despite volatility in beef prices. During its earnings call, the firm’s CFO commented that high beef prices were affecting its margins. Cramer also discussed Darden Restaurants, Inc. (NYSE:DRI) in the context of meat prices and pointed to the role of chicken in the results:

Photo by Syed Ahmad on Unsplash

“The reason why Darden did better than we thought, okay, is because, that’s about, salad. Chicken. . .he’s like he’s been to OG. . .OG is Olive Garden. . .that’s chicken.”

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.