Yes, even if an object has moved through a distance, it can have zero displacement. Then can happen if, after moving through a certain distance, the moving object comes back to its starting position. For example, if an athlete runs along a circular track and after completing one round, comes back to his starting position, then the distance moved by the athlete will be equal to the circumference of circular track but his displacement will be zero (because the straight line distance between his initial and final positions will be zero).