Vanguard Boosts Stake in Packaging Corp of America to 12.6%

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

Sentiment: bullish

Topics: institutional-ownership, amendment, passive-investment

TL;DR

**Vanguard upped its PCA stake to 12.6%, a bullish sign for the stock!**

AI Summary

The Vanguard Group, a major investment firm, filed an amendment to its SC 13G filing on February 13, 2024, disclosing its ownership in Packaging Corp of America (PCA). As of December 29, 2023, Vanguard beneficially owned 11,685,251 shares of PCA's common stock, representing 12.6% of the company. This is an increase from their previous filing, indicating Vanguard's continued confidence in PCA, which could signal stability for current and potential investors.

Why It Matters

When a large, influential institutional investor like Vanguard increases its stake, it often signals a positive outlook on the company's future performance, potentially reassuring other investors.

Risk Assessment

Risk Level: low — This filing indicates a major institutional investor is increasing its stake, generally seen as a positive and stabilizing factor.

Analyst Insight

A smart investor would view Vanguard's increased stake as a positive signal, potentially indicating a stable, long-term investment opportunity in Packaging Corp of America, and might consider further research into PCA's fundamentals.

Key Numbers

11,685,251 — Shares Beneficially Owned (Represents the total common stock shares of Packaging Corp of America held by The Vanguard Group.)
12.6% — Percentage of Class (Indicates the significant ownership stake The Vanguard Group holds in Packaging Corp of America.)
0 — Sole Voting Power (Shows that The Vanguard Group does not have sole voting power over any shares, indicating a passive investment strategy.)
111,685 — Shared Voting Power (Represents the number of shares over which The Vanguard Group shares voting power.)

Key Players & Entities

The Vanguard Group (company) — reporting person and institutional investor
Packaging Corp of America (company) — subject company whose securities are being reported
11,685,251 (dollar_amount) — number of shares beneficially owned by Vanguard
12.6% (dollar_amount) — percentage of class beneficially owned by Vanguard
December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

Packaging Corp of America's stock price will remain stable or see a slight increase due to institutional confidence. (Packaging Corp of America) — medium confidence, target: Q2 2024
Vanguard will maintain its significant stake in PCA, indicating a long-term investment strategy. (The Vanguard Group) — high confidence, target: End of 2024

FAQ

What is the purpose of this SC 13G/A filing?

This SC 13G/A filing is an amendment (Amendment No. 12) to a Schedule 13G, filed by The Vanguard Group, to update its beneficial ownership of common stock in Packaging Corp of America as of December 29, 2023.

Who is the reporting person in this filing and what is their IRS Identification Number?

The reporting person is The Vanguard Group, and its I.R.S. Identification No. is 23-1945930, as stated in Item 1 of the filing.

How many shares of Packaging Corp of America does The Vanguard Group beneficially own, and what percentage of the class does this represent?

The Vanguard Group beneficially owns 11,685,251 shares of Packaging Corp of America's common stock, which represents 12.6% of the class, according to the cover page and Item 9 of the filing.

What is the date of the event that required this filing?

The date of the event which requires the filing of this statement is December 29, 2023, as specified on the cover page of the filing.

Does The Vanguard Group have sole voting power over these shares?

No, The Vanguard Group has 0 shares with sole voting power. It has shared voting power over 111,685 shares and shared dispositive power over 11,685,251 shares, as detailed in Items 5, 6, 7, and 8 of the filing.

From the Filing

0001104659-24-020099.txt : 20240213 0001104659-24-020099.hdr.sgml : 20240213 20240213165552 ACCESSION NUMBER: 0001104659-24-020099 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 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: 24627127 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: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv0107-packagingcorpofameric.htm SCHEDULE 13G/A packagingcorpofamerica SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 12)* Name of issuer:  Packaging Corp of America Title of Class of Securities:  Common Stock CUSIP Number:  695156109 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ 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). (Continued on the following page(s))     13G CUSIP No.:  695156109 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 111,685 7.  SOLE DISPOSITIVE POWER 10,848,711 8.  SHARED DISPOSITIVE POWER 392,478 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,241,189 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.54% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Packaging Corp of America Item 1(b) - Address of Issuer's Principal Executive Offices: 1 North Field Court Lake Forest, IL 60045-4824 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class of Securities: Common Stock Item 2(e) - CUSIP Number 695156109 Item 3 - Type of Filing: This