TARGET CORP — Director's Dealing 2004

May 13, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2004-05-05

Reporting Person: Baer Timothy R (Executive Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	0	Direct
Common Stock, $.0833 per share	2752.769	Indirect

Footnotes

F1: Shares held in the Target Corporation 401(k) Plan (the "401(k) Plan") as of April 30, 2004, subject to adjustments.