TARGET CORP — Director's Dealing 2004

Mar 12, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2004-01-31

Reporting Person: HALE JAMES T (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-26	Common Stock, $.0833 per share	G	230	—	Disposed	105312	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	54504	Indirect
Common Stock, $.0833 per share	10145	Indirect

Footnotes

F1: The reporting person disclaims beneficial ownership of all securities held by his wife and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

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