BlackRock Amends PCA Stake: Passive Investment Update

Ticker: PKG · Form: SC 13G/A · Filed: 2024-02-07T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investment

TL;DR

**BlackRock updated its passive stake in Packaging Corp of America; keep an eye on institutional sentiment.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on February 7, 2024, indicating a change in its ownership stake in Packaging Corp of America. This filing, triggered by an event on January 31, 2024, shows BlackRock's updated passive investment position. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in sentiment or strategy towards Packaging Corp of America, potentially influencing other investors.

Why It Matters

Changes in major institutional holdings like BlackRock's can influence market perception and stock price, as other investors often follow the lead of large funds.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate significant risk or opportunity.

Analyst Insight

Investors should note BlackRock's continued passive interest in Packaging Corp of America, but this filing alone doesn't suggest a need for immediate action. It's a routine update.

Key Players & Entities

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G, indicating a change in beneficial ownership by a passive investor.

Who is the reporting person in this filing?

The reporting person is BlackRock, Inc., a major asset management firm based in New York, NY.

What is the subject company of this filing?

The subject company is PACKAGING CORP OF AMERICA, which operates in the paperboard containers & boxes industry.

What was the date of the event that triggered this filing?

The event that required the filing of this statement occurred on January 31, 2024.

Under which rule was this Schedule 13G/A filed?

This Schedule 13G/A was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, which typically applies to institutional investors holding less than 20% of a company's stock with a passive investment intent.

From the Filing

0001086364-24-006809.txt : 20240207 0001086364-24-006809.hdr.sgml : 20240207 20240207170904 ACCESSION NUMBER: 0001086364-24-006809 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240207 DATE AS OF CHANGE: 20240207 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: 24605684 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_020724.txt us6951561090_020724.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 2) PACKAGING CORP OF AMERICA -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 695156109 -------------------------------------------------------- (CUSIP Number) January 31, 2024 -------------------------------------------------------- (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 8412368 (6) Shared voting power 0 (7) Sole dispositive power 8980509 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 8980509 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 10.0% (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: ---------------------------------------------------------

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