TARGET CORP — Director's Dealing 2007

Jun 18, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2007-06-15

Reporting Person: Scully Terrence J (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-15	Common Stock	M	11765	$38.25	Acquired	21437	Direct
2007-06-15	Common Stock	M	10741	$30.26	Acquired	32178	Direct
2007-06-15	Common Stock	M	8579	$40.8	Acquired	40757	Direct
2007-06-15	Common Stock	M	50	$26.3438	Acquired	40807	Direct
2007-06-15	Common Stock	S	50	$64.0496	Disposed	40757	Direct
2007-06-15	Common Stock	S	8579	$64.0496	Disposed	32178	Direct
2007-06-15	Common Stock	S	10741	$64.0496	Disposed	21437	Direct
2007-06-15	Common Stock	S	11765	$64.0496	Disposed	9672	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-15	Stock Option	$26.3438	M	50	Disposed	2009-01-13	Common Stock (50)	Direct
2007-06-15	Stock Option	$30.26	M	10741	Disposed	2013-01-08	Common Stock (10741)	Direct
2007-06-15	Stock Option	$38.25	M	11765	Disposed	2014-01-14	Common Stock (11765)	Direct
2007-06-15	Stock Option	$40.8	M	8579	Disposed	2012-01-09	Common Stock (8579)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	26421.443	Indirect

Footnotes

F1: Includes dividend equivalents paid on restricted stock units since the date of the reporting person's last filing that have been reinvested in additional restricted stock units.

F2: Price is the weighted average selling price of all sales by the reporting person on the transaction date. The range of selling prices was $64.01 to $64.10 per share.

F3: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of March 31, 2007.

F4: Option granted under the Target Corporation Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.

F5: Option granted on January 13, 1999. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F6: Option granted on January 8, 2003. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F7: Option granted on January 14, 2004. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F8: Option granted on January 9, 2002. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.