TARGET CORP — Director's Dealing 2011

Jan 13, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2011-01-10

Reporting Person: Schiel Tina M (Executive Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7801.0000	Direct
Common Stock	8932.9647	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Compensation Units	$		Common Stock (10654.6568)		Direct
Stock Option	$33.8000	2019-01-14	Common Stock (27738.0000)		Direct
Stock Option	$48.8900	2018-01-09	Common Stock (20455.0000)		Direct
Stock Option	$48.9400	2016-09-01	Common Stock (5109.0000)		Direct
Stock Option	$49.4100	2020-01-13	Common Stock (15609.0000)		Direct
Stock Option	$49.4300	2015-01-12	Common Stock (15173.0000)		Direct
Stock Option	$53.1700	2015-09-01	Common Stock (2822.0000)		Direct
Stock Option	$53.3600	2020-08-09	Common Stock (4260.0000)		Direct
Stock Option	$53.9800	2016-01-11	Common Stock (14821.0000)		Direct
Stock Option	$54.8700	2018-09-02	Common Stock (6379.0000)		Direct
Stock Option	$58.1300	2017-01-10	Common Stock (15483.0000)		Direct
Stock Option	$64.6300	2017-09-04	Common Stock (5416.0000)		Direct

Footnotes

F1: Deferred compensation units are held under the Target Corporation Executive Deferred Compensation Plan (the "Plan"). Under the terms of the Plan, participants' deferred compensation balances are indexed to various crediting rate alternatives, as chosen by them. The units reported relate to the Target common stock crediting rate alternative, and each unit is the economic equivalent of one share of Target common stock. The value of such units increases or decreases daily in accordance with an equivalent investment in the Target Stock Fund in the corporation's 401(k) plan. Participants are generally free to transfer plan balances into other crediting rate alternatives at any time. The Plan balances represent unsecured general obligations of Target Corporation, and are payable solely in cash.

F2: Option granted on January 14, 2009. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F3: Option granted on January 9, 2008. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F4: Option granted on September 1, 2006. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F5: Option granted on January 13, 2010. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F6: Option granted on January 12, 2005. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F7: Option granted on September 1, 2005. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F8: Option granted on August 9, 2010. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F9: Option granted on January 11, 2006. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F10: Option granted on September 2, 2008. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F11: Option granted on January 10, 2007. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F12: Option granted on September 4, 2007. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.