BlackRock Trims PCA Stake to 12.0% as of Dec 31, 2023
Ticker: PKG · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 75677
| Field | Detail |
|---|---|
| Company | Packaging Corp Of America (PKG) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, portfolio-rebalancing, amendment
TL;DR
**BlackRock cut its PCA stake to 12.0% as of year-end 2023.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 24, 2024, disclosing its ownership of 10,958,740 shares of Packaging Corp of America (PCA) common stock as of December 31, 2023. This represents a 12.0% stake in PCA, a slight decrease from its previous filing. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in its confidence in PCA's future performance, potentially influencing other investors' decisions.
Why It Matters
This filing shows BlackRock, a major institutional investor, slightly reduced its stake in Packaging Corp of America, which could be interpreted as a minor decrease in their conviction for the stock.
Risk Assessment
Risk Level: low — The change in BlackRock's ownership is a minor adjustment and does not indicate a significant shift in the company's fundamentals or a major divestment.
Analyst Insight
Investors should note BlackRock's minor reduction in its PCA stake, but consider it in the broader context of PCA's financial performance and market conditions rather than as a standalone strong buy or sell signal.
Key Numbers
- 10,958,740 — Shares Owned (Total shares of Packaging Corp of America held by BlackRock Inc. as of December 31, 2023.)
- 12.0% — Ownership Percentage (BlackRock Inc.'s percentage ownership of Packaging Corp of America's common stock.)
- 20240124 — Filing Date (The date BlackRock Inc. filed this SC 13G/A amendment.)
- 005-60569 — SEC File Number (The SEC file number for Packaging Corp of America.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- PACKAGING CORP OF AMERICA (company) — the subject company whose shares are being reported
- 10,958,740 shares (dollar_amount) — the total number of shares of Common Stock beneficially owned by BlackRock Inc.
- 12.0% (dollar_amount) — the percentage of the class of securities beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which requires the filing of this statement
Forward-Looking Statements
- BlackRock's slight reduction in PCA shares suggests a minor rebalancing of its portfolio rather than a strong bearish signal. (BlackRock Inc.) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc.?
This SC 13G/A filing is an amendment (Amendment No: 1) to a Schedule 13G, indicating that BlackRock Inc. is updating its previously reported beneficial ownership of Packaging Corp of America's common stock as of December 31, 2023, under Rule 13d-1(b).
How many shares of Packaging Corp of America does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 10,958,740 shares of Packaging Corp of America's Common Stock.
What percentage of Packaging Corp of America's common stock does BlackRock Inc. own?
BlackRock Inc. beneficially owns 12.0% of the class of securities (Common Stock) of Packaging Corp of America.
When was the event that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023.
What is the CUSIP number for Packaging Corp of America's common stock mentioned in the filing?
The CUSIP number for Packaging Corp of America's Common Stock is 695156109.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding PACKAGING CORP OF AMERICA (PKG).