TARGET CORP — Director's Dealing 2003

Dec 19, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2003-12-18

Reporting Person: AHLERS LINDA L (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-18	Common Stock, $.0833 per share	G	850	—	Disposed	52897	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	75211	Direct
Common Stock, $.0833 per share	1414	Indirect
Common Stock, $.0833 per share	9982.4931	Indirect

Footnotes

F1: Shares held by trust of which Ms. Ahlers is a trustee.

F2: Includes 351.0693 shares acquired through the Dividend Reinvestment Plan during the fiscal year ended February 1, 2003.

F3: Held in Ms. Ahlers' name in an IRA brokerage account as of February 1, 2003.

F4: Held in Target Corporation 401(k) Plan (the "401(k) Plan") as of February 1, 2003, subject to adjustments.