TARGET CORP — Director's Dealing 2003

Oct 16, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2003-10-14

Reporting Person: STEINHAFEL GREGG W (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-14	Common Stock, $.0833 per share	M	50000	$9.3438	Acquired	205703	Direct
2003-10-14	Common Stock, $.0833 per share	S	50000	$40.5	Disposed	155703	Direct
2003-10-14	Common Stock, $.0833 per share	M	25000	$9.3438	Acquired	180703	Direct
2003-10-14	Common Stock, $.0833 per share	S	25000	$40.64	Disposed	155703	Direct
2003-10-15	Common Stock, $.0833 per share	M	25000	$9.3438	Acquired	180703	Direct
2003-10-15	Common Stock, $.0833 per share	S	25000	$40.8	Disposed	155703	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-14	Stock Option	$9.3438	M	56842	Disposed	2007-01-08	Common Stock (56842)	Direct
2003-10-14	Stock Option	$9.3438	M	18158	Disposed	2007-01-08	Common Stock (18158)	Direct
2003-10-15	Stock Option	$9.3438	M	25000	Disposed	2007-01-08	Common Stock (25000)	Direct

Footnotes

F1: Mr. Steinhafel also holds 58,338.922 shares in the Target Corporation 401(k) Plan (the "401(k) Plan") as of February 1, 2003, subject to adjustments.

F2: Option granted under the Target Corporation Long-Term Incentive Plan of 1981 in a transaction exempt under Rule 16b-3.