Warren Buffett told CNBC on Monday that Berkshire Hathaway paid too much for Kraft, noting he might have misjudged certain aspects about the company.

"I was wrong in a couple of ways about Kraft Heinz," Buffett told CNBC's Becky Quick on "Squawk Box." "We overpaid for Kraft."

"It's still a wonderful business in that it uses about $7 billion of tangible assets and earns $6 billion pretax on that," Buffett said. "But we, and certain predecessors, we paid $100 billion in tangible assets. So for us, it has to earn $107 billion, not just the $7 billion that the business employs."