SCHEDULE: FMR LLC Reports 7% Stake in Cheesecake Factory

FMR LLC and Abigail P. Johnson have filed an amendment to Schedule 13G, reporting beneficial ownership of 7.0% of Cheesecake Factory Inc.'s common stock as of July 31, 2026.

Summary

• FMR LLC and Abigail P. Johnson have filed an amendment to their Schedule 13G filing.
• As of July 31, 2026, FMR LLC beneficially owns 3,474,051.89 shares of Cheesecake Factory Inc. common stock.
• This represents 7.0% of the class of securities.
• Fidelity Management & Research Company LLC, FIAM LLC, Fidelity Diversifying Solutions LLC, Fidelity Management Trust Company, and Strategic Advisers LLC are identified as entities involved in the beneficial ownership.
• Abigail P. Johnson is identified as a Director, Chairman, and CEO of FMR LLC, and members of the Johnson family may be deemed to form a controlling group with respect to FMR LLC.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports a change in beneficial ownership percentage without providing new operational or financial performance data.

Positives

• FMR LLC maintains a significant stake, indicating continued investor confidence in Cheesecake Factory's long-term prospects.
• The filing clarifies the beneficial ownership structure, providing transparency to the market.

Negatives

• The filing does not provide any new operational or financial performance data for Cheesecake Factory Inc.

Risks

• Potential for increased market influence by FMR LLC, which could impact stock price volatility.
• The "Johnson family group" and other Series B shareholders' voting agreement could lead to concentrated voting power.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding Cheesecake Factory Inc.'s future performance. It solely reports on beneficial ownership.

Management Comments

• Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC.
• Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC.
• The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares.

Industry Context

StockSavvy.ai notes that large institutional ownership, as reported in this Schedule 13G filing, is common in the restaurant industry. FMR LLC is a significant asset manager, and its holdings reflect its investment strategies across various sectors.

Comparison to Industry Standards

• Institutional ownership in publicly traded restaurant companies typically ranges from 50% to 90%.
• A 7.0% stake by a single entity like FMR LLC is substantial and places it among the significant institutional investors.
• Competitors like Darden Restaurants (DRI) and Chipotle Mexican Grill (CMG) also have significant institutional ownership, often exceeding 80%.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased transparency regarding significant beneficial ownership, potentially influencing market perception and trading activity.
• Management of Cheesecake Factory Inc.: May need to consider the influence of a large, consolidated shareholder group in strategic decision-making.
• FMR LLC Stakeholders: The filing confirms the management and investment strategy of FMR LLC concerning its holdings in Cheesecake Factory Inc.

Next Steps

• FMR LLC and Abigail P. Johnson will continue to report any material changes in their beneficial ownership of Cheesecake Factory Inc. common stock.
• The market will monitor FMR LLC's investment activity and any potential future changes in its stake.

Key Dates

Keywords

Cheesecake Factory, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Investment Management, Restaurant Industry