TARGET CORP - Director's Dealing 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2005-07-14

Reporting Person: SCOVANNER DOUGLAS A (Executive Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-07-14	Common Stock, $.0833 per share	M	756	$17.2969	Acquired	76880.0000	Direct
2005-07-14	Common Stock, $.0833 per share	M	49244	$26.3438	Acquired	126124.0000	Direct
2005-07-14	Common Stock, $.0833 per share	S	50000	$58.3900	Disposed	76124.0000	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-07-14	Stock Option	$17.2969	M	756	Disposed	2008-01-14	Common Stock (756.0000)	Direct
2005-07-14	Stock Option	$26.3438	M	49244	Disposed	2009-01-13	Common Stock (49244.0000)	Direct

Security	Shares	Ownership
Common Stock, $.0833 per share	4162.5198	Indirect
Common Stock, $.0833 per share	3000.0000	Indirect

F1: Shares held in the Target Corporation 401(k) Plan (the "401(k) Plan") as of the quarter ended April 30, 2005, subject to adjustments.

F2: Shares held in a trust of which Mr. Scovanner is a trustee.

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

F4: Option granted on January 14, 1998. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F5: Option granted under the Target Corporation Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.

F6: Option granted on January 13, 1999. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.