TARGET CORP — Director's Dealing 2004

Oct 12, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2004-10-11

Reporting Person: SCOVANNER DOUGLAS A (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-11	Common Stock, $.0833 per share	M	128	$9.3438	Acquired	76252	Direct
2004-10-11	Common Stock, $.0833 per share	S	128	$48.1	Disposed	76124	Direct
2004-10-11	Common Stock, $.0833 per share	M	59872	$17.2969	Acquired	135996	Direct
2004-10-11	Common Stock, $.0833 per share	S	59872	$48.1	Disposed	76124	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-11	Stock Option	$9.3438	M	128	Disposed	2007-01-08	Common Stock (128)	Direct
2004-10-11	Stock Option	$17.2969	M	28907	Disposed	2008-01-14	Common Stock (28907)	Direct
2004-10-11	Stock Option	$17.2969	M	28907	Disposed	2008-01-14	Common Stock (28907)	Direct
2004-10-11	Stock Option	$17.2969	M	2058	Disposed	2008-01-14	Common Stock (2058)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	3000	Indirect
Common Stock, $.0833 per share	3801.6	Indirect

Footnotes

F1: Shares held in a trust of which Mr. Scovanner is a trustee.

F2: Shares held in the Target Corporation 401(k) Plan (the "401(k) Plan") as of January 31, 2004, subject to adjustments.

F3: Option granted under the Target Corporation Long-Term Incentive Plan of 1981 in a transaction exempt under Rule 16b-3.