Common Sense with Money has the following scenario where you could get free dog food. However, I'm a tad skeptical about this deal. Here is why.
1. Target prices vary by region and store. For instance, what one store might have on a temporary price cut, the same store in town may not. Temporary price cuts are triggered by store sales on items and distribution center stock. Hence why it varies by store and where you live.
2. Many times Target will not adjust coupons to make an item free. Technically, their policy is to allow a store and man. coupon. However, really it is up to each store once again on how they enforce this policy. Sometimes it will go through without problem and sometimes it will not.
3. I don't know how often this Purina coupon resets. However, if you've already printed it, you may not be able to reprint.
Your better bet would be to do the second scenario where you get a $5.00 gift card. There is less chance that the coupons will not go through as your total would be above just tax and less reason for them to reject your coupon. Also, because this is in the store ad, the price will not vary and you know what you will be paying before you go in the store.