State Street Discloses Passive Stake in Packaging Corp of America

TL;DR

**State Street just revealed a big, passive stake in Packaging Corp of America.**

AI Summary

State Street Corporation, a major financial institution based in Boston, Massachusetts, filed an initial SC 13G on January 29, 2024, disclosing its ownership of common stock in Packaging Corp of America (PCA) as of December 31, 2023. This filing indicates that State Street holds a significant, passive stake in PCA, signaling its confidence in the company's long-term prospects. For investors, this matters because large institutional holdings can provide a degree of stability and validation for a stock, as these firms typically conduct extensive due diligence.

Why It Matters

This filing shows a major institutional investor, State Street Corporation, has taken a significant, passive position in Packaging Corp of America, which can be seen as a vote of confidence.

Risk Assessment

Risk Level: low — This is a routine disclosure of a passive investment by a large institution, indicating no immediate red flags or aggressive activist intent.

Analyst Insight

A smart investor would note State Street's passive stake as a sign of institutional confidence, but also understand that a 13G filing doesn't imply active management or an impending corporate action, suggesting no immediate need for a buy/sell decision based solely on this filing.

Key Players & Entities

• State Street Corporation (company) — the reporting person and institutional investor
• Packaging Corp of America (company) — the subject company whose securities are being reported
• Boston, Massachusetts (company) — place of organization for State Street Corporation
• December 31, 2023 (date) — date of event which requires filing of this statement

Forward-Looking Statements

• State Street Corporation will maintain its passive stake in Packaging Corp of America for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
• Packaging Corp of America's stock will experience continued institutional interest due to its inclusion in major investment portfolios. (Packaging Corp of America) — medium confidence, target: 12/31/2024

FAQ

From the Filing

0000093751-24-000284.txt : 20240129 0000093751-24-000284.hdr.sgml : 20240129 20240129070049 ACCESSION NUMBER: 0000093751-24-000284 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 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 SEC ACT: 1934 Act SEC FILE NUMBER: 005-60569 FILM NUMBER: 24570053 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: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G 1 Pack_Corp_of_America.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 INITIAL FILING PACKAGING CORP OF AMERICA (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 695156109 (CUSIP NUMBER) 12/31/2023 (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 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 2,950,232 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 4,543,242 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,546,581 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.07% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 695156109 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER PACKAGING CORP OF AMERICA (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 1 NORTH FIELD COURT LAKE FOREST IL 60045 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE 1 BOSTON, MA 02114-2016 (FOR ALL REPORTING PERSONS) (C) CITIZENSHIP: SEE ITEM 4 (CITIZENSHIP OR PLACE OF ORGANIZATION) OF COVER PAGES (D) TITLE OF CLASS OF SECURITIES COMMON STOCK (E) CUSIP NUMBER: 695156109 ITEM 3. IF THIS STATEMENT IS FI