BlackRock Trims PCA Stake to 12.0% as of Dec 31, 2023

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

From the Filing

0001086364-24-002351.txt : 20240124 0001086364-24-002351.hdr.sgml : 20240124 20240124142717 ACCESSION NUMBER: 0001086364-24-002351 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240124 DATE AS OF CHANGE: 20240124 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PACKAGING CORP OF AMERICA CENTRAL INDEX KEY: 0000075677 STANDARD INDUSTRIAL CLASSIFICATION: PAPERBOARD CONTAINERS & BOXES [2650] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 364277050 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-60569 FILM NUMBER: 24555912 BUSINESS ADDRESS: STREET 1: 1955 W FIELD CT CITY: LAKE FOREST STATE: IL ZIP: 60045 BUSINESS PHONE: 8474823000 MAIL ADDRESS: STREET 1: 1955 W FIELD CT CITY: LAKE FOREST STATE: IL ZIP: 60045 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us6951561090_012424.txt us6951561090_012424.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 1) PACKAGING CORP OF AMERICA -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 695156109 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 695156109 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 8389275 (6) Shared voting power 0 (7) Sole dispositive power 8948727 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 8948727 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 9.98% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- PACKAGING CORP OF AMERICA Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 1955 W FIELD CT LAKE FOREST IL 60045 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, residence: --------------------------------------------------------