SCHEDULE: FMR LLC Boosts Cheesecake Factory Stake to 14.8%

FMR LLC and its affiliates, including Abigail P. Johnson, reported a 14.8% beneficial ownership stake in Cheesecake Factory Inc. as of December 31, 2025.

Summary

• FMR LLC and its affiliates, including Abigail P. Johnson, collectively reported beneficial ownership of 7,413,484.42 shares of Cheesecake Factory Inc. common stock.
• This represents 14.8% of the total outstanding common stock of Cheesecake Factory Inc.
• FMR LLC holds sole voting power over 7,402,252.59 shares and sole dispositive power over 7,413,484.42 shares.
• Abigail P. Johnson, as a control person of FMR LLC, is deemed to beneficially own the same aggregate amount of shares with sole dispositive power.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• Several FMR LLC subsidiaries and affiliates, including Fidelity Management & Research Company LLC, are identified as entities beneficially owning shares, with Fidelity Management & Research Company LLC beneficially owning 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a large, passive institutional stake by FMR LLC suggests continued confidence in Cheesecake Factory Inc. without any intent to influence control, which can be reassuring to other investors.

Positives

• A significant institutional investor, FMR LLC, maintains a substantial 14.8% stake, indicating continued confidence in Cheesecake Factory Inc.'s long-term prospects.
• The filing explicitly states the shares are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a passive, long-term investment strategy.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding the future outlook of Cheesecake Factory Inc. or FMR LLC's investment strategy beyond the stated purpose of holding shares in the ordinary course of business.

Management Comments

• "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities."

Industry Context

StockSavvy.ai notes that a significant stake by a major asset manager like FMR LLC in a restaurant chain like Cheesecake Factory Inc. can signal institutional confidence in the company's long-term strategy and market position within the competitive casual dining sector. Such filings are routine disclosures of substantial ownership, reflecting portfolio management decisions rather than direct operational insights.

Comparison to Industry Standards

• StockSavvy.ai observes that a 14.8% stake held by a single institutional entity like FMR LLC is a substantial position, often seen in companies where large funds have conviction. For instance, similar large institutional holdings are common in established restaurant chains, such as BlackRock's 15.1% stake in McDonald's Corporation or Vanguard's 11.2% stake in Starbucks Corporation, indicating a similar level of institutional interest and belief in the long-term stability and growth potential of the underlying business.

Stakeholder Impact

• Shareholders: The continued significant ownership by a major institutional investor like FMR LLC may provide a sense of stability and institutional backing for the company's stock.
• Management: The statement that the shares are not held for the purpose of changing or influencing control suggests that current management can continue executing its strategy without immediate pressure from this specific large shareholder.

Key Dates

Recommendation

The filing indicates a stable, significant institutional ownership by FMR LLC, which is a positive sign of long-term confidence. However, as a routine disclosure of beneficial ownership without new operational or financial data, it does not present new information that would warrant a 'buy' or 'sell' recommendation. The existing large stake suggests a 'hold' position for investors who align with the long-term view of a major institutional player.

Keywords

Cheesecake Factory Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Restaurant Industry, Passive Investment