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Google says it does not affect search rankings & traffic. However, from my understanding it does affect. Users who come through social media can also be an organic user next time.
Also, a website with high audience on social media have a high chance to get promoted in SERP. These users also can be a word-of-moth publicity for your brand and hence, can bring more users in the form of search, social & direct traffic. When Google says they monitor the sentiment of a brand to calculate page rank, they can do it only by looking into its social profile (FB, twitter, Instagram etc.) to calculate the sentiments of a business.
There are some other straight wins of Organic Traffic if you do your Social Well: