TARGET CORP — Director's Dealing 2005

Mar 8, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2005-03-04

Reporting Person: STEINHAFEL GREGG W (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-04	Common Stock, $.0833 per share	M	140132	$17.2969	Acquired	294648.0000	Direct
2005-03-04	Common Stock, $.0833 per share	M	59868	$26.3438	Acquired	354516.0000	Direct
2005-03-04	Common Stock, $.0833 per share	S	59868	$52.6140	Disposed	294648.0000	Direct
2005-03-04	Common Stock, $.0833 per share	S	140132	$52.6140	Disposed	154516.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-04	Stock Option	$17.2969	M	140132	Disposed	2008-01-14	Common Stock (140132.0000)	Direct
2005-03-04	Stock Option	$26.3438	M	59868	Disposed	2009-01-13	Common Stock (59868.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	3185.0110	Indirect

Footnotes

F1: Option granted under the Target Corporation Long-Term Incentive Plan of 1981 in a transaction exempt under Rule 16b-3.

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

F3: Shares held in the Target Corporation 401(k) Plan (the "401(k) Plan") as of January 28, 2005, subject to adjustments.

F4: The option vests and becomes exercisable in 25% increments on each anniversary of the grant date.