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NewsBreak- Kraft Heinz Slumps After 3G Cuts Stake

Investing.com - Shares of Kraft Heinz (NASDAQ:KHC) slipped in premarket trade on Tuesday after its second-largest investor reduced its stake in the company.

Brazilian private equity giant 3G Capital Partners sold 25.1 million shares, equivalent to a stake of around 2%, at a price of $28.44 per share on Monday evening, bringing its total stake to 245 million shares.

Meanwhile, Kraft director Jorge Lemann bought 3.5 million shares on Monday at $28.60 per share, according to an SEC filing. Lemann is one of the co-founders of 3G Capital and has been on the board of Kraft since 2015.

Kraft Heinz (NASDAQ:KHC) stock was down 2% as of 7:44 AM ET (11:44 GMT).

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