TARGET CORP — Director's Dealing 2004

Jun 17, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2004-06-15

Reporting Person: NEAL DIANE L (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-15	Common Stock, $.0833 per share	M	3796	$26.3438	Acquired	3796	Direct
2004-06-15	Common Stock, $.0833 per share	S	3796	$46	Disposed	0	Direct
2004-06-15	Common Stock, $.0833 per share	M	4432	$33.8512	Acquired	4432	Direct
2004-06-15	Common Stock, $.0833 per share	S	4432	$46	Disposed	0	Direct
2004-06-15	Common Stock, $.0833 per share	M	4413	$33.9956	Acquired	4413	Direct
2004-06-15	Common Stock, $.0833 per share	S	4413	$46	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-06-15	Stock Option	$26.3438	M	949	Acquired	2009-01-13	Common Stock (949)	Direct
2004-06-15	Stock Option	$26.3438	M	949	Acquired	2009-01-13	Common Stock (949)	Direct
2004-06-15	Stock Option	$26.3438	M	949	Acquired	2009-01-13	Common Stock (949)	Direct
2004-06-15	Stock Option	$26.3438	M	949	Acquired	2009-01-13	Common Stock (949)	Direct
2004-06-15	Stock Option	$33.8512	M	1108	Acquired	2010-01-12	Common Stock (1108)	Direct
2004-06-15	Stock Option	$33.8512	M	1108	Acquired	2010-01-12	Common Stock (1108)	Direct
2004-06-15	Stock Option	$33.8512	M	1108	Acquired	2010-01-12	Common Stock (1108)	Direct
2004-06-15	Stock Option	$33.8512	M	1108	Acquired	2010-01-12	Common Stock (1108)	Direct
2004-06-15	Stock Option	$33.9956	M	1471	Acquired	2011-01-10	Common Stock (1471)	Direct
2004-06-15	Stock Option	$33.9956	M	1471	Acquired	2011-01-10	Common Stock (1471)	Direct
2004-06-15	Stock Option	$33.9956	M	1471	Acquired	2011-01-10	Common Stock (1471)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	8505.474	Indirect

Footnotes

F1: Shares held in the Target Corporation 401(k) Plan (the "401(k) Plan") as of January 31, 2004, subject to adjustments.

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

F3: Option granted under the Target Corporation Long-Term Incentive Plan of 1999 in a transaction exempt under Rule 16b-3.