Target

Target (TGT - Get Report)  announced Thursday it will raise its minimum wage by $1 to $13 an hour starting in June.

Target said it plans to raise the minimum wage to $15 an hour in 2020, as the retailer promised in 2017.

Minneapolis-based Target has more than 300,000 employees and 1,845 locations in the United States.

In March, rival Costco (COST) raised its employees' minimum wage to $15 an hour from $14. Amazon (AMZN - Get Report) also pays a minimum of $15 an hour, while Walmart, the world's largest retailer, pays $11 an hour for entry positions.

Share of Target were slightly higher Thursday, up 0.67% to $79.84. 

The stock has an average hold rating and consensus price target of $85.09. There are five buy ratings, 13 holds, one sell, one underweight and one overweight rating on the stock, according to FactSet. 

Will You Have Enough Money Retire?

Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.