One of the ways recycled denim gets used is in building insulation. There is more info here:
https://www.thespruce.com/denim-insulation-pros-cons-5116610
One quality of recycled denim insulation is that it is excellent at absorbing and damping sounds. People looking for high quality audio in their vehicles swear by denim.
** I tried to pick the least spamy source for additional more info. If you have a better source please post.
Rather than give your old jeans to Target, maybe consider sewing/having them sewn into a blanket. Old denim makes a great outer layer on a blanket, with a softer inner layer. Thin and warm in winter but cool to the touch.
I would gladly give my used denim to a non-profit that does this. Currently have a pair of jeans that are end-of-life for me and I don’t sew.
Better than just throwing them away, for sure!